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Introduction to Preparing Form 1120S

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Client Document Checklist for Form 1120S Preparation

To prepare a Form 1120S, you should request the following documents from your client:

Prior Year Tax Return

  • Previous year’s Form 1120S
  • Any related schedules or statements

Financial Statements

  • Profit and Loss Statement
  • Balance Sheet
  • Trial Balance

Bank Statements

  • All business bank account statements for the tax year

Income Records

  • Sales receipts or invoices
  • 1099 forms (if applicable)

Expense Records

  • Receipts for deductible expenses
  • Invoices for business-related purchases

Asset Information

  • Depreciation schedules
  • Purchase details of new assets

Loan Documents

  • Loan statements or amortization schedules
  • Interest payment records

Shareholder Information

  • Shareholder’s basis information
  • Shareholder K-1 forms

Payroll Records

  • Payroll reports
  • W-2 forms, W3 and related payroll tax returns (Form 940, 941, DE9, DE9C, etc.)

Legal and Regulatory Documents

  • Copy of IRS Form CP575 (EIN confirmation letter)
  • Articles of Incorporation
  • Secretary of State filings

Other Relevant Documents

  • Any other financial documents that could affect the tax return
  • Records of any special transactions (e.g., sale of business property)



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miscentavos.com California Public Accountant and Enrolled Agent
Passionate and experienced Small Business Financial Literacy Educator, I am dedicated to helping entrepreneurs and small business owners build financial literacy and develop the skills needed to manage their finances with confidence. With a deep understanding of financial management, budgeting, and accounting principles, I have a proven track record of delivering high-quality financial education and training to individuals and groups of all backgrounds.

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