JulieS
Expert Alumni

Business & farm

If your intention is file an 1120 tax return, otherwise known as a C-Corporation, you won't have a Schedule K-1. 

 

Schedule K-1 forms are attached to pass through entities only, like partnerships, S-Corporations and trusts. 

 

A C-Corporation files Form 1120 and may pay tax at the entity level. That is, there may be tax due on the Form 1120. 

 

The owner of a C-Corporation does not report anything on their individual tax return unless they receive a W-2 or dividends. 

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