SusanY1
Expert Alumni

After you file

There are actually limitations to your rights to obtain the full form 1120-S and you cannot be provided with all schedules, as the rules do not allow copies of the Schedule K-1s that contain information about other shareholders to be provided to another party, unless "sanitized".

 

Your personal Schedule K-1 gives all of the information that the lender should need, if they understand that you are not the sole owner.  

 

If the lender feels like they really need to know what the total ordinary income for the entire company was they could easily determine that from the information on your K-1 (it's simple math using your percentage of ownership and the numbers on the form to reverse-engineer it).

 

You can request a transcript, as an owner, using the form @Mike9241 provided a link to above, but again you will not get "all schedules" - just the 1120S which genuinely doesn't provide anything useful here and the copy of your K-1 which you seem to have. 

 

I recently had a similar request from a mortgage company so I just looked elsewhere and sailed through underwriting without even so much as another mention of 1120-S.  That should really only be relevant if the S-Corp is applying for the loan or perhaps in cases where the applicant is the sole owner.  (If you take a look at the form itself, you'll see that it really doesn't provide any additional useful information - Form 1120-S

 

As for the CPA not asking you to sign the return, that is normal.  Each shareholder does not have to sign an 1120-S, just the officer designated to do so.  There is no misconduct there to report.  

 

 

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