topic How do I file 1120S in Business & farm

How do I file 1120S

bcjones5675 — Thu, 06 Jun 2019 05:26:15 GMT

what do I buy to file business 1120s and personal and business taxes

Corporate returns, such as Forms 1120-S, 1120, 1065, 1041...

MargaretL — Thu, 06 Jun 2019 05:26:17 GMT

Corporate returns, such as Forms 1120-S, 1120, 1065, 1041 are offered through Business Tax package:

https://turbotax.intuit.com/small-business-taxes/

Once the 1120-S form is prepared, it will generate Schedule K-1, which reports your share of profit/loss and expenses from the S-Corp. That schedule needs to be reported on your personal tax return (such as Premier or Home & Business online).

Re: How do I file 1120S

Dmachkhidze — Sat, 12 Mar 2022 03:32:31 GMT

Hello,

Do I file Schedule K-1, statement A, 199A statement A summary, 199A worksheet by activity, section 179 carryover, other deductions with the 1120S?

Do I file Schedule K-1 with my 1040form?

Do I file Schedule k-1-P with my personal state income tax?

Thank you!

Re: How do I file 1120S

ErnieS0 — Sun, 13 Mar 2022 00:37:07 GMT

Yes. Those forms are part of Form 1120S. They are filed with the return and a copy of Schedule K-1 and Schedule K-1-P is also given to each shareholder.

Form 1120S in a subchapter S corporate tax return. An S Corp is a special type of corporation. It generally pays no tax itself. Instead, each shareholders claims a portion of the income, deductions and credits on their tax returns. The amount to claim is reported on Schedule K-1. The Illinois amount is on Schedule K-1-P.