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Yes, that matters a GREAT DEAL.
If you have C corporation, that entity must file a return. Income and deductions are shown on that return and that entity may/may not have to pay income taxes, depending on the taxable income.
Money or property that you took out of the C Corporation will be treated as dividends, and taxed to you as dividends. Salary that you took out of the C Corporation should have been treated as salary and the C corporation should have paid FICA taxes and withheld FICA taxes from your salary and possibly federal & sate W/H amounts for income taxes.
None of the income and deductions of the C corporation should appear on your F1040. Also, if you have a partner that is also a shareholder, why would you put it as self-employed?
Here is a link to publication 542, Corporations....it should answer many questions. Note, all corporations must file a return unless they are exempt from tax under IRC Section 501. That would probably NOT apply to your corporation.
https://www.irs.gov/pub/irs-pdf/p542.pdf
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