fyllyoFiscal-year dates written out
A fiscal-year corporation’s records write the year out, as in “July 1, 2023 through June 30, 2024”. The header wants month and day with a two-digit year. Software can copy the dates as written, or swap month and day.
TAX FORMS · IRS · BUILT IN
Fill Form 1120-S with AIU.S. Income Tax Return for an S Corporation
Add the S corporation’s organizer, shareholder register, tax schedules, balance sheet and reconciliation workpapers. Fyllyo fills Form 1120-S on your Mac. Anything the documents disagree on is left for you, with the reason.
Where AI form filling goes wrong on Form 1120-S
Form 1120-S draws on a stack of workpapers: book figures and tax figures, a balance sheet, a shareholder register and a ledger of payments to owners, often with more than one version of the same number. These are the common places AI tools and autofill get it wrong. What the form requires is for the IRS to say. Follow its instructions. IRS official page for Form 1120-S.
Book income isn’t the return’s income
The file holds an income statement per books and a tax schedule, and their numbers differ. Depreciation is one example. Software can put a book amount on a tax line.
A balance sheet total that doesn’t add up
A draft balance sheet can print a total that doesn’t match its own accounts. Software copies the printed total into item F and Schedule L without adding anything up.
Charitable gifts listed with the expenses
The books list charitable contributions with the other expenses, but they’re reported separately to shareholders, not deducted on page 1. Software can add them to other deductions.
Payments to owners that aren’t distributions
A ledger of payments to shareholders mixes distributions with repayments of money an owner lent the company, and often ends with one total. Software can report the whole total as distributions.
How Fyllyo takes care of them
With a test client and seven workpapers (an organizer, the shareholder register, the tax operating schedule, Schedule K items and owner payments, a draft balance sheet, a book-to-tax reconciliation and the AAA schedule), Fyllyo filled 112 fields in 64 seconds. It left 4 for the preparer, each with the reason.
- Fiscal-year dates written out. Reads the dates as written and puts them in the header’s format itself. In the test, that was 07/01 to 06/30, 24.
- Book income isn’t the return’s income. Fills page 1 from the final tax schedule, $18,000 of depreciation rather than the books’ $12,000, and keeps net income per books for Schedule M-1.
- A balance sheet total that doesn’t add up. Adds up the accounts and compares the sum with the printed total. In the test the draft printed 252,500 and the accounts came to 255,500, so it left total assets for the preparer with both amounts.
- Charitable gifts listed with the expenses. Keeps charitable contributions off page 1 and reports them on Schedule K line 12a.
- Payments to owners that aren’t distributions. Keeps the two apart. In the test, it reported $15,000 of distributions, not the ledger’s $25,000 total.
How much of a Form 1120-S does Fyllyo fill?
Fyllyo can fill all 314 fields on Form 1120-S from the client’s documents. Lines the documents don’t support stay blank and are listed for you to check.
You confirm on every form
- Corporation's name
- Corporation's employer identification number
- Total income or loss
- Amount owed
- Refund
- and 3 more
What do you give Fyllyo?
Fyllyo reads the documents you already have. These can be PDFs, scans, photos, Word files or typed notes, and you can add several at once. Fyllyo works out which document answers which line.
Client data stays on your Mac
Client documents and the filled form never leave your computer. Fyllyo uploads nothing. Once it is set up, filling works offline.
What Fyllyo doesn’t do
Fyllyo doesn’t decide what to file, give legal or tax advice, or submit Form 1120-S for you. Use the IRS’s official page for Form 1120-S and your professional judgement. Fyllyo does the reading and the typing.
Which edition of Form 1120-S does Fyllyo fill?
The built-in Form 1120-S is the 2023 version. For a different edition, add that fillable PDF as your own form. You set it up once, then fill it like this one. Set up that fillable PDF as your own form →
What if a document is a scan or a photo?
Fyllyo reads scans and photos as well as PDFs, Word files and typed notes. Clear, readable copies give the best results, and every answer on Form 1120-S still shows the line it came from.
Fill your next Form 1120-S on your Mac
Try form filling free for 5 days. Then buy Fyllyo Paid once for $99. It is a lifetime licence with free updates and no subscription. Filling forms on your Mac uses no AI credits. Pricing and licence details.