turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

JohnPMilburn
Returning Member

No Income or Deductions 1120-s

I've entered all of the numbers for income, deductions, etc, but Form 1120-S is blank for lines 1-28. We have a loss. In addition, we are trying to complete form 8453, and it asks for the number from 1120-S, Line 6. Which is BLANK! What is going wrong that the profit/loss info is not showing up on 1120-S?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
ThomasM125
Expert Alumni

No Income or Deductions 1120-s

You may not see any numbers on your S Corporation page one if you are entering rental income and expenses on Form 8825. In that case, you would enter $0 for the amount on line 6, as you would have no ordinary income, just rental income reported on Form 8825. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
JohnPMilburn
Returning Member

No Income or Deductions 1120-s

But i paid $190 for TurboTax Business. Shouldn’t the software load those numbers for me after I entered the details? 

ThomasM125
Expert Alumni

No Income or Deductions 1120-s

If you entered rental income and expenses, those entries are listed on Form 8825, Rental Real Estate and Expenses of a Partnership or an S Corporation. It will be included with your Form 1120-S when you file it. That is the way you report a rental activity for an S Corporation. The first page of Form 1120-S does not list any numbers in that case, if all you have is rental income and expenses.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question