Fern
New Member

Business & farm

If the 1099 MISC is in the name of the business, it gets entered on form 1120 S only.

Quarterly estimated tax payments are entered on form 1040 only.

The S-Corp does not pay income taxes.  The earnings of the S-Corp are distributed to the shareholder.  So, the income is recorded on the S-Corp return.  It is distributed to the shareholders after expenses are deducted on form K-1.  The shareholders must pay tax on the distribution.  Estimated tax payments are made by the shareholders to pay for the taxes due on S-Corp distributions.