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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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March 30, 2023
6:00 AM
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