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Where the AAA Account Should be Reported on Form 1120S

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Where is the AAA account reported on Form 1120S?

In what situation does the AAA account have the largest impact?

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Solution Summary

This solution explains where the AAA account should be reported on the form 1120S, and in what situations the AAA account has the largest impact. Additionally, this solution includes a complete list of reference sources for further investigation of the topic.

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Where is the AAA account reported on Form 1120S?

The accumulated Adjustments Accounts (AAA) account is reported on schedule M-2 line 7 under column (a) in Form 1120S. Schedule M-2 provides a worksheet for reconciling the starting and finishing tax balances for the AAA, Other Adjustments Accounts and previous taxed income (Jamison, 2010).

M-2 is convenient in its computations as long as an S computation has no accumulated earnings and profits since there is no place in ...

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