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Business & farm
If the S-Corp is your business, you should be preparing a separate tax return for that business. The S corporation does not pay income tax, it has a responsibility to file an annual tax return on Form 1120S. This tax form is for informational purposes only and provides the IRS with a view of the business' earnings and expenses.
As an individual you will get a K-1 that will report your income. This is what will be posted to your individual tax return.
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‎February 8, 2023
5:08 AM