JohnB5677
Expert Alumni

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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