MYCPE ONE

Drake Software 1120S Tax Prep Training

Simplify S Corp Filings: Accurate, Efficient, Compliant

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3509

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Published on June, 2026
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Multiple

Qualifications 

9

Credits

9 Hours

Learning Duration

$299

Training Program Access

Overview

What You’ll learn

The Drake Software 1120S Tax Prep Training is your complete guide to preparing and filing S Corporation tax returns with precision and confidence. This hands-on course by expert Gregory Holzel walks you through everything from initial return setup to complex shareholder reporting, using Drake Software to streamline and support your work. Whether you’re filing for single-owner S Corps or multi-shareholder corporations, this program gives you the tools to report income, calculate depreciation, allocate K-1s, and e-file with confidence.

Get Deeper Understanding of:
  • Setting up and preparing 1120S in Drake Software
  • Applying tax treatment to S Corp income and expense entries
  • Completing Schedules B and B1 for compliance
  • Handling real estate and depreciation in 1120S return
  • Finalizing returns, reviewing errors, and e-filing.
Recommended For:
  • CPAs, EAs, and CRTPs working with S Corporation clients and looking to streamline tax return workflows using Drake Software.
  • Tax professionals seeking to master S Corp filings including shareholder allocations, depreciation, and balance sheet schedules.
  • Preparers managing real estate S Corps or multi-owner entities that require accurate K-1 distribution and reporting.
Resources included
  • Handout PDFs for every Module.
  • Glossary/Key Terms for every module.
  • Q&A directly with instructors.

Courses

Form 1120S Fundamentals in Drake for S Corporation ReturnsForm 1120S: Initial Setup in Drake and Basic Information EntryForm 1120S: Income and Deductions in Drake Including Cost of Goods SoldForm 1120S: Schedule B and B-1 Filing in Drake Tax SoftwareForm 1120S: Schedule L and M Reporting with Drake SoftwareForm 1120S: Schedules K and K-1 Shareholder Basis Management in DrakeForm 1120S: Schedule D Reporting in Drake for Depreciation and Rental PropertyForm 1120S: Final Review and Error Resolution Using DrakeForm 1120S: Amended Return Preparation in Drake Tax Software
Course Title Time Credits Learning Format
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02707) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02707) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03231-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Explain the structure and data flow of Form 1120S and schedules.
  • Navigate Drake Tax input screens, diagnostics, and e-file workflow for S-corps.
  • Explore advanced S-corporation topics covered later in the Drake Tax Series.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02692) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02692) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03215-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • IRS guidelines governing Form 1120S filing requirements and S corporation reporting.
  • Identify key Drake Tax Software screens used during initial client setup.
  • Discuss engagement letter preparation procedures within Drake software workflow.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02691) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02691) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03214-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Analyze IRS guidelines governing income reporting for S corporation tax returns.
  • Identify components used in calculating cost of goods sold.
  • Discuss deductible business expense categories reported on Form 1120S.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02690) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02690) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03213-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Evaluate officer compensation using IRS total receipts criteria for required reporting.
  • Apply digital asset reporting rules to S‑corporation compliance determinations effectively.
  • Strengthen data entry consistency across Drake screens supporting accurate corporate filings.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02689) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02689) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03212-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Identify IRS thresholds requiring Schedule L completion for S‑corporation filings.
  • Apply Schedule M‑3 rules for corporations exceeding IRS asset thresholds effectively.
  • Strengthen accuracy when entering Schedule L and M data in Drake.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02695) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02695) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03218-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Identify Schedule K reporting requirements governing corporate‑level income and deductions.
  • Apply Form 7203 rules supporting compliant basis computation and limitation tracking.
  • Strengthen accuracy when entering Schedule K and basis information in Drake.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02694) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02694) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03217-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Identify IRS reporting rules governing capital gains and losses on Schedule D.
  • Analyze depreciation calculations and elections using Form 4562 accurately.
  • Evaluate rental real estate income and expenses using Form 8825 requirements.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02693) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02693) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03216-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Identify essential steps in preparing an accurate initial draft within Drake.
  • Analyze client review procedures that support complete and compliant tax returns.
  • Apply e‑filing procedures using Drake’s EF tools for secure transmission.
1 Hour
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02688) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-02688) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Taxes for Delaware Licensed Public Accountant (DE-LPA) 1 CPE Approved
Federal tax-related matters for LTC (Approval No. GEHNZ-T-03211-26-S) 1 CE Approved
Taxes for Iowa Licensed Public Accountant (IA-LPA) 1 CPE Approved
Taxes for Maine Licensed Public Accountant (ME-LPA) 1 CPE Approved
On Demand (video)
  • Identify IRS requirements for filing a corrected Form 1120‑S accurately.
  • Evaluate filing timelines and e‑filing eligibility for amended S‑corporation returns.
  • Strengthen accuracy when preparing and submitting amended returns within Drake.

* Disclaimer: Before attending any course, please verify that the credit details align with your qualification requirements. This certificate is designed to help you acquire new skills and knowledge, which may or may not fulfill specific compliance criteria. While we have made every effort to ensure our courses adhere to compliance standards, we recommend reviewing the details to confirm applicability for your needs.

Instructors

Gregory Holzel

Gregory Holzel

Owner, GT Financials PLLC

Gregory Holzel is an accomplished accountant and Certified Public Accountant (CPA) with expertise in financial analysis, auditing, and budgeting.


Education: Gregory holds an MBA with a concentration in Finance, graduating magna cum laude from Shippensburg University in May 2023. During his studies, he achieved a remarkable GPA of 3.82. Prior to his MBA, he completed a Bachelor's degree in Accounting at Central Penn College in Summerdale, PA, graduating magna cum laude in 2021. Gregory also served as a tutor during his undergraduate studies.


Experience: Gregory has gained valuable experience in the accounting field through various roles. As a Senior Auditor at S.R. Snodgrass, P.C. in King of Prussia, PA from 2021 to 2023, he audited financial statements and provided assurance services for financial institutions and employee benefit plans. His responsibilities included preparing audit work papers, documenting audit tests and findings, and preparing reports for management review. In June 2023, Gregory launched GT Financials PLLC, a company that offers accounting and financial services to small businesses.


Before transitioning into the role of a Senior Auditor, Gregory served as a Senior Staff Accountant at Fleet Repair Solutions in Grantville, PA, from 2018 to 2021. In this position, he conducted detailed financial analysis, prepared financial statements, and played a vital role in budget preparation and month-end closing. Gregory was also responsible for designing, implementing, and maintaining accounting policies, procedures, and controls.


Certification: Gregory Holzel became a Certified Public Accountant (CPA) in 2023, further demonstrating his commitment to professionalism and expertise in the field.


Skills: With a strong background in accounting and finance, Gregory possesses a wide range of skills. His areas of expertise include financial planning and analysis (FP&A), financial reporting, payroll, auditing, budget preparation, variance analysis, and cost accounting. He is proficient in utilizing tools such as QuickBooks desktop and QuickBooks online (QBO), SQL, and Microsoft Office, particularly Excel at an expert level. Additionally, Gregory has experience working with SAP and is familiar with nonprofit accounting, public accounting, and private industry practices.


Gregory Holzel is a dedicated and knowledgeable professional who consistently strives for excellence in the field of accounting. His combination of education, certifications, and practical experience makes him a valuable asset in any accounting or finance role.

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Frequently Asked Questions

This Drake Software 1120S Tax Prep Training provides a comprehensive, step-by-step guide to preparing and filing Form 1120S S Corporation returns using Drake Software. It begins with the fundamentals of corporate tax concepts relevant to S Corps, including eligibility, filing requirements, and entity-level considerations. You’ll learn how to properly set up a new return in Drake Software, input essential data accurately, and navigate interface options that streamline tax prep.

This Drake Software 1120S Tax Prep Training is a practical resource for tax professionals looking to strengthen their skills in preparing S Corporation returns while mastering Drake Software's tools and workflow. Whether you’re a CPA, EA, CRTP, or tax preparer working with small businesses, this course equips you to handle real-world 1120S scenarios with clarity and confidence. In addition to boosting your technical accuracy and efficiency, the course also prepares you to respond to audit risks and amend returns when necessary.  

The Practical Training Programs is created by qualified and experienced instructors. MYCPE ONE’s Practical Training Programs includes self-study courses, most of which are delivered as on-demand videos. These self-study video courses may be recordings of live presentations converted into on-demand format.

You can complete the Programs at your own pace. There is no limit on the number of exam attempts, so if you do not pass on the first attempt, you may retake the exam without any restrictions.

After completing each Programs within this Practical Training Programs , you can download a certificate showing the course title and number of hours completed. Certificates and study records are stored for life and can be accessed at any time. These certificates serve as valid proof of continuing education credits and may also be used as an additional designation.

Once registered, you will have full access to all courses included in the Practical Training Programs . The self-study format allows you to access materials online 24/7 and study at your own pace.

As per NASBA guidelines, you have one year from the date of purchase to complete each self-study course. After completing the course, you may take the final exam at any time and receive CPE credit instantly. The exam can be retaken multiple times at no additional cost.

Each Programs requires a minimum passing score of 70% on the final exam. Multiple attempts are allowed.

Our video player tracks and stores your watch time, which is displayed in the progress bar. Do not fast forward or manually move the progress bar, as the system will not capture your watch time if you do so. You may pause and resume the video at any time, and playback will continue from where you left off.
To complete a self-study course, you must:
1. Watch the entire video (100% completion).
2. Answer all review questions correctly. Review questions are located at the bottom of the same page as the video.
3. Once the video and review questions are completed, the Final Quiz will unlock. You must score at least 70% to earn CPE credit. Multiple attempts are allowed.
4. After completing the Review and Final Quiz, you can download your certificate from the “My Certificates” section. Ensure that multiple file downloads are enabled in your browser.
5. Certificates can be downloaded individually from your account or as a consolidated certificate from the package page.


A self-study course is a recorded video. If the course is a recording of a live session, polling questions may appear on the screen. You do not need to answer these polling questions. Do not fast forward the video, as doing so may prevent the system from tracking your watch time, requiring you to rewatch the video.
To unlock the final quiz, you must complete the entire video and answer all review questions correctly. Once unlocked, you must score at least 70% on the final quiz to qualify for credit. Multiple attempts are allowed for both review and final quiz questions.
If the issue persists, please email support@my-cpe.com or contact our support team via live chat.

The evaluation form is sent within 24 hours after you pass the final quiz with a minimum score of 70%. The evaluation form is available only to attendees who remained logged in until the end of the course and answered all polling questions.

MY-CPE LLC is PCI-compliant. MYCPE ONE uses Stripe, a secure payment gateway that meets PCI-DSS compliance standards, ensuring all payment details are protected through SSL encryption. Once you have registered for a package and completed payment, refunds are not provided unless you are unable to access the courses.