Are you in the process of preparing an 1120-S for your S corporation?
A K-1 (1120-S) is generated for each shareholder of an S corporation (including 100% owners/shareholders).
No.. I just need to know if 100% shareholder needs to file a K1
Did you receive a K-1 from your S corporation? Who prepared and filed the 1120-S?
You need to enter the information from your K-1 into your individual income tax return.
An S-Corp return must be filed each year timely (due 3/15 if it is a calendar year entity) and issue a K-1 to each shareholder who in turn must report that K-1 on their personal return as the corp return is a pass thru entity. If you have not filed the corp return yet is it now very late and the penalties are piling up as I type ... seek out local professional assistance if you do not know how to file it.