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1. Using the preceding information, prepare a 2023 Form 1120S and Schedule K–1s
1. Using the preceding information, prepare a 2023 Form 1120S and Schedule K–1s for Earvin Johnson 25 Newport Blvd, Irvine CA 92618, and Lawrence Bird, 10 Main Street, Irvine, CA 92618. Complete the Forms 1125–A, 1125–E, 4562, 4797 and Schedule D and other forms you deem necessary. If any information is missing, make realistic assumptions. Suggested software: Pro Connect Tax Online.
2. Prepare a letter to one of the S Corporation shareholders explaining what they should do with the information on the K-1 on their individual tax returns. DO NOT USE
COMPUTER GENERATED LETTERS
3. Prepare write up describing the similarities and differences between an S Corporation, partnership 1065 and corporate tax return 1120 that you have prepared. Also discuss the tax aspects of the S Corporation return and any significant you want to communicate to Magic, Inc. (tax issues, planning ideas, etc.). Use appropriate authorities
***Form 1120S, Schedule K-1s, 1125–A, 1125–E, 4562, 4797 and Schedule D and other forms you deem necessary – Please also prepare these forms along with the instruction***
Order from us for quality, customized work in due time of your choice.