Your S corporation's Form 1120S is the corporation's business tax return which must be file separately from your personal tax return.
You do not transfer line 18 of Schedule K (Form 1120S) to your personal tax return. To pass various types of income and deductions to your personal tax return, the S corporation instead provides you with a copy of the Schedule K-1 from the S corporation's tax return. You include only the information from the Schedule K-1 on your personal tax return. Information from a Schedule K-1 can be entered in online TurboTax Premier or TurboTax Self-Employed, or any version of the CD/Download version of TurboTax.
