Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 2:39:35 PM

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

0 1 486
1 Replies
Level 13
Jun 4, 2019 2:39:37 PM

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