<p>I just got my 1120S today and I am ready to finish the CSS, but I don’t know how to find the actual number that they are looking for…where on the 1120S is the number for value of the business and amt owed on the busines…Please accountants and experienced filers!
Please help me!
Thanks…</p>
<p>The 1120S is your S-Corporation’s tax return for 2008. It will just show your pro-rated share of the corporation’s net income that will in turn go on your personal tax return, since S-Corps pass this through to the owners. The 1120S will not show the corporation’s value or the assets/liabilities of the corporation.</p>
<p>The value an S-Corp depends on a lot of factors. There might be an appraisal, or if it has significant assets then there would be a liquidation value, or there might be an investment value if it’s a going concern that could be sold. This is something that your accountant could probably help you with.</p>