My accountant files a business return every year. I get K1. Do I need to file schedule C or just k1

lennys123 · ‎June 5, 2019

My accountant files a business return every year for my S corp.. My wife and I get K1s. Do I need to file schedule C or just enter the K1s. Right now my return has both. Seems schedule C came over from last year but after reviewing it it doesn't seem like I need it. The K1s from last year also came over to review which I know must be included.

AnnetteB · ‎June 5, 2019

You only need to enter the K-1s for you and your spouse to report your S-Corp income and expenses as part of your personal tax return.

Unless you had an additional sole proprietorship, there should not be a Schedule C included as part of your personal return.

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My accountant files a business return every year. I get K1. Do I need to file schedule C or just k1

Business & farm