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AlbertoZ
Returning Member

Can any S corporation expenses be included in personal 1040 return?

 
1 Reply
AliS
New Member

Can any S corporation expenses be included in personal 1040 return?

No, S Corporation income and expenses are reported on form 1120S.  Once the 1120S is prepared, each shareholder receives a K-1 which is reported on the personal tax return.

Note:  More detail on this topic can be found in the information below.

Small-Business-Taxes/What-is-a-Schedule-K-1-Tax-Form

Small-Business-Taxes/Do-Chapter-Sub-S-Corps-File-Personal-Tax-Returns

 Small-Business-Taxes/S-Corp-Federal-Tax-Filing-Dates

https://ttlc.intuit.com/replies/3301717




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