20-S vs. OR-K-1 question

[JAD88]

This is my first time using Turbotax to file my S-Corp  1120-S for both federal and state (Oregon).

In reviewing and comparing the final forms generated by Turbotax to my filing from last year, I see that my former accountant had used the form: OR-K-1 whereas Turbotax used form 20-S with the title  (Oregon Schedule K-1 Equivalent).

Form 20-S has less information than the OR-K-1 in that it doesn't include lines for revenue ...  Are these forms really equivalent?

[ThomasM125 · Accepted solution]

The forms aren't the same, as form 20-S is used to report "Oregon corporate excise or income tax liability of a business in Oregon." Whereas OR-K-1 is used by the S corporation to "provide an individual owner with information necessary to complete the owner's Oregon income tax return." Thus, form 20-S would be the proper form to file the S corporation income tax return to the state of Oregon. These are from the instructions to the forms: