The S-Corp must file a tax return (Form 1120 S). The S-Corp as part of its tax filing will issue a Schedule K-1 to each S-Corp shareholder. The draws you have taken along with the income and expense items are distributed to the owners of the S Corp via a Schedule K-1.
You include the Schedule K-1 in your personal tax return. Schedule K-1 is not reported on a Schedule C. You can use Turbo Tax Premier to include K-1 information.
To complete an 1120 S, you need to use Turbo Tax Business. This is a separate program from the programs used to prepare an individual tax return.
