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smorrow1980
New Member

If I am an S-Corp, do I need to fill out a Schedule K-1 or a Schedule C????

 
1 Reply
TomYoung
Level 13

If I am an S-Corp, do I need to fill out a Schedule K-1 or a Schedule C????

The S-Corp needs to prepare and file with the IRS Form 1120S.  As part of the preparation of that income tax return Schedule K-1 is created "passing through" the corporations activities to its shareholder (you).  You then enter the Schedule K-1 information into your own income tax return.

Tom Young

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