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Inactive S-Corp needs to generate and distribute K1 form?

I am the only owner of an S-Crop which has never started business and had  zero income since it was registered in 2023. Under this situation, is there any K1 form needed to be generated and distributed to myself? Please advise. Thanks!

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2 Replies

Inactive S-Corp needs to generate and distribute K1 form?

If you created an S corporation, you must file a business tax return form 1120 S. The deadline for this return is March 15, not April 15, unless you get an extension. If there are no business activities (no income or expenses) then a K-1 will not be generated as part of the 1120, but you must still file the 1120.

Inactive S-Corp needs to generate and distribute K1 form?

The software is going to generate a K-1 along with the 1120-S regardless.

 

Also, there is a difference between an 1120 and an 1120-S; the former is filed on behalf of a C corporation which would never generate a K-1.

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