Is a schedule K-1 (1120S) the same as schedule K (1120S) form

[tagteam · Accepted solution]

Many, and probably most, people refer to a Schedule K-1 alternatively as a "Schedule K" (which is the form typically generated when a tax return for a pass-through entity, such as an S corporation, is prepared).

However, just so it is clear, there is a Schedule K on Form 1120S itself (see screenshots for the distinction).

[jmfaoro]

So which one do I use when Turbo tax tells me to enter k-1 info?

[TaxGuyBill]

TurboTax asks for the K-1, so enter the K-1, not the Schedule K.

[lesliesalt]

...

[SusanK]

Yes, they are the same.