What the engine can do.

Conventional federal S-corporation preparation with multiple individual shareholders and owner-specific reporting.

• The current TY2025 profile supports one to five unchanged individual owners, exact ownership fractions, and reconciled whole-dollar K-1 allocations.
• Contributions, distributions, wages and loan activity stay with the actual owner. They are not allocated simply because ownership is 60/40.
• Supported initial S periods require established election evidence and reviewed opening book and tax facts. Short initial periods end December 31.

Ordinary business income, deductions, book-to-tax adjustments, paid shareholder-loan interest and accountable-plan reimbursements.

• Books, reviewed classifications and supported adjustment events feed ordinary income and separately stated items.
• Paid shareholder-loan interest remains associated with the actual lender. Already-booked amounts are linked once; unbooked supported payments create the corresponding cash expense.
• Reviewed paid accountable-plan reimbursements use their ordinary expense category, with a workpaper connecting the payment and supporting evidence.

Owner-specific stock basis, bona fide direct debt, suspended loss character, restoration and supported Form 7203 output.

• Original or purchased unchanged stock blocks use explicit opening basis and suspended-item history.
• Direct formal notes and bounded open-account debt retain principal, tax basis, repayments and restoration separately. Corporate third-party debt and guarantees do not become shareholder basis.
• Supported suspended deductions retain their ordinary, section 179, section 1231, charitable, rental, capital or other supported character and origin.

Depreciation, supported section 179 and bonus/MACRS, dispositions, listed property, and startup, organizational and intangible amortization.

• Reviewed asset cost, service dates, acquisition facts, elections and prior recovery feed the existing depreciation system.
• Supported ordinary equipment dispositions produce Form 4797. Property with prior passed-through section 179 uses the applicable owner-associated disposition information.
• Company cars, trucks and SUVs include applicable passenger limits and listed-property treatment. Supported startup, organizational and purchased section 197 costs produce amortization schedules and Form 4562 sections.

Ordinary corporation-owned residential and commercial rentals with separate property reporting and Form 8825.

• Reviewed rents, expenses, building and land costs, and recovery history feed property workpapers and applicable rental Form 4562 instances.
• Rental character remains separate through Schedule K, each K-1 and supported basis calculations.
• Property-level information supports explicit QBI review; the software does not infer the conclusion from the presence of rental income.

Reviewed inventory rollforward and cost components, Form 1125-A, and distinct cost-of-goods-sold reporting.

• Supported established section 471(c) methods include nonincidental materials and supplies, AFS-book and non-AFS-book methods.
• Beginning inventory, purchases, returns, ending inventory and permitted cost components remain visible in the workpaper.
• Eligibility and the existing accounting method are professional decisions; importing a schedule does not select or change a method.

Ordinary corporate stock, fund and other supported capital-asset sales with known basis, Schedule D (1120-S) and Form 8949.

• Lot records preserve dates, proceeds, reviewed basis, selling costs and supported supplied adjustments.
• Short- and long-term character remains separate through corporate and owner reporting.
• Applicable direct-report exceptions and Form 8949 categories determine the actual form package.

Payroll reconciliation, officer compensation, applicable Form 1125-E, and bounded SEP and Solo 401(k) workflows.

• Payroll support is reconciled with the books. Officer identities and amounts can differ from the shareholder roster.
• Form 1125-E applicability uses total receipts and the officer-compensation facts; employee wages and benefits retain their appropriate treatment.
• Supported retirement calculations use reviewed eligibility, compensation, actual contributions, outside deferrals and timing. Employee deferrals are not deducted a second time.

Actual Form 1120-S, K-1, applicable supporting forms, book-to-tax schedules and corporate QBI information.

• The output includes applicable 1120-S, K-1, 4562, 7203, 1125-E, 4797, 1125-A, 8825, Schedule D (1120-S) and 8949 forms.
• Schedule L, M-1, M-2/AAA, QBI Statement A and supporting statements connect the corporate return to reviewed books and owner information.
• K-2/K-3 omission uses a reviewed domestic-exception procedure across all owners; no foreign income alone is not sufficient. Official K-2/K-3 forms are not generated.

Source review, Guided Preparation, workpapers, How calculated, optional diagnostics and saved professional return packages.

• Forms, line explanations, diagnostics and Print / Save PDF refer to the saved preparation. Selecting pages does not run a second tax calculation.
• Changing an input makes current output stale. Update Return creates a new saved preparation while retaining the earlier package as history.
• The manifest separates corporate output, shareholder deliverables and internal workpapers. Owner-scoped selections reject another owner’s private documents.