S-Corp - where do i report it?

[flapyourwings]

Where do I report my S-Corp wagers on my personal income taxes

[Fern]

The S-Corp must file a tax return (Form 1120 S).  The S-Corp as part of its tax filing will issue a Schedule K-1 to each S-Corp shareholder. The draws you have taken along with the income and expense items are distributed to the owners of the S Corp via a Schedule K-1.

You include the Schedule K-1 in your personal tax return.  Schedule K-1 is not reported on a Schedule C. You can use Turbo Tax Premier to include K-1 information.

To complete an 1120 S, you need to use Turbo Tax Business. This is a separate program from the programs used to prepare an individual tax return.