Since your business is filing as an S-Corp, all of your business income and expenses will be reported on Form 1120-S using the TurboTax Business program. A K-1 will be generated as a result of completing the Form 1120-S.
The K-1 will be entered on your personal return to report the appropriate income and/or deductions from your S-Corp.
Since this is your first year in business, you may wish to consult a local tax professional for assistance to get started on the right foot.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
