To produce the Form 7004 - Application for Automatic Extension for an S Corporation 1120S, there are two methods you could follow:

Method 1: Preparer may input information to calculate desired amount to be paid with the extension.

1. Go to Federal Interview Form EXT-1 - Federal Application For Extension.
• In box 30 - X to prepare Form 7004, checkmark this box.
• In boxes 37 through 42 - Overrides, enter amounts as applicable.
2. Calculate the return.

Note: Interview Form EXT- 1 provides additional input opportunities for tentative tax, prior year overpayment credited to current year, estimated payments made during the year, credit for tax paid on undistributed capital gains, and credit for federal tax of fuels.  

 

Method 2: System automatically calculates based on data in the return.

1. Go to Federal Interview Form 1 – Basic Data.
• In box 69 - X to produce Form 7004, checkmark this box.
• Note: Marking this box will generate the Federal Form 7004 based on the numbers already calculated on the return.
2. Calculate the return.

Note: The values recorded on Form 7004 lines 6, 7, and 8 are based on income and deduction data recorded in the return. No income and deduction information will result in no data in Form 7004, lines 6, 7, and 8.  

Click here if you are preparing Form 7004 using worksheet view