Solved: Where should royalties from books be entered on an 1120S: p. 1, Line 1 or instead p.3, Schedule K, Line 6? I'm a writer operating via an S corp. (am sole shareholder).
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Where should royalties from books be entered on an 1120S: p. 1, Line 1 or instead p.3, Schedule K, Line 6? I'm a writer operating via an S corp. (am sole shareholder).

 
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Level 6

Where should royalties from books be entered on an 1120S: p. 1, Line 1 or instead p.3, Schedule K, Line 6? I'm a writer operating via an S corp. (am sole shareholder).

On form 1120S, royalties are entered on line 6 of Schedule K (page 3 of form 1120S).

On Schedule K-1 (form 1120S), they are entered in box 6 - Royalties.

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Level 6

Where should royalties from books be entered on an 1120S: p. 1, Line 1 or instead p.3, Schedule K, Line 6? I'm a writer operating via an S corp. (am sole shareholder).

On form 1120S, royalties are entered on line 6 of Schedule K (page 3 of form 1120S).

On Schedule K-1 (form 1120S), they are entered in box 6 - Royalties.

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

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New Member

Where should royalties from books be entered on an 1120S: p. 1, Line 1 or instead p.3, Schedule K, Line 6? I'm a writer operating via an S corp. (am sole shareholder).

Thank you. If the royalties are entered that way, even when big royalties are earned most years will show a significant loss on p. 1, line 21 because I usually incur substantial travel expense.
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