Reporting new business income and expenses

KRvetteLT1 — Tue, 10 Mar 2026 07:03:16 GMT

How do I report my new business income and expense through an S Corp?

Re: Reporting new business income and expenses

Anonymous — Wed, 16 Nov 2022 18:05:55 GMT

Hello KRvettelLT1,

Thank you for participating in the Ask the Experts Event. As to your question, filing as an S-Corp will require you to file a separate business tax return (Form 1120-S). S-Corps are considered pass-through entities because they are not taxed at the corporate level for which a Schedule K-1 will be created for each shareholder of the S-Corp when filing the 1120-S. That Schedule K-1 is what the individual shareholders will use to enter their share of income/losses into their individual tax return.

I hope that helps.

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Reporting new business income and expenses

Re: Reporting new business income and expenses