I’m currently trying to file for a corporation but want to know if my partner and i can claim it separately with our personal taxes or am i the only one who can do it
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The corporation will file for itself.
If it is an S corporation, the S corporation tax return (1120-S) will generate an IRS Schedule K-1 for each shareholder. The IRS Schedule K-1 will be used to complete the owner's individual tax returns.
The corporation will file for itself.
If it is an S corporation, the S corporation tax return (1120-S) will generate an IRS Schedule K-1 for each shareholder. The IRS Schedule K-1 will be used to complete the owner's individual tax returns.
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