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Form 2553 Election by a Small Business Corporation should be filed separately from your Form 1120-S U.S. Income Tax Return for an S Corporation or Form 1120 U.S. Corporation Income Tax Return return. It cannot be e-filed. You will have to paper-file Form 2553.

To enter or review information from Form 2553:

  1. From within your TaxAct 1120 or 1120-S return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Election by a Small Business Corporation in the Federal Quick Q&A Topics menu, then continue with the interview questions to enter or review the appropriate information.

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Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.


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