About Form 1120-S, U.S. Income Tax Return for an S Corporation

 

Use Form 1120-S to report the income, gains, losses, deductions, credits, etc., of a domestic corporation or other entity for any tax year covered by an election to be an S corporation.


Current Revision


Recent Developments


Schedules

Use Form 1120-S (Schedule B-1), Information on Certain Shareholders of an S Corporation, to provide the information applicable to any shareholder in the S corporation that was a disregarded entity, a trust, an estate, or a nominee or similar person at any time during the tax year.

Schedule B-1 (Form 1120-S)PDF

 Corporations that elect to be S corporations use Schedule D (Form 1120-S) to report:
 

  • Capital gains and losses.
  • Sales or exchanges of capital assets.
  • Gains on distributions to shareholders of appreciated capital assets.

Schedule D (Form 1120-S)PDF 

Instructions for Schedule D (Form 1120-S) (Print VersionPDF)

The S corporation files a copy of this schedule with the IRS to report your share of the corporation's income, deductions, credits, etc.

Schedule K-1 (Form 1120-S)PDF 
Instructions for Schedule K-1 (Form 1120-S) (Print Version)PDF 

Schedule K-2 (Form 1120-S) is an extension of Form 1120-S, Schedule K. Use Schedule K-2 (Form 1120-S) to report items of international tax relevance from the operation of an S corporation.

Schedule K-2 (Form 1120-S)PDF 
Instructions for Schedule K-2 & K-3 (Form 1120-S) (Print Version)PDF 

The S corporation files a copy of this schedule with the IRS to report your share of the corporation's income, deductions, credits, etc that with international tax relevance from the operation of an S corporation.

Schedule K-3 (Form 1120-S)PDF 
Instructions for Schedule K-3 (Form 1120-S) (Print Version) PDF

Part I of this schedule asks certain questions about the corporation's financial statements and reconciles financial statement worldwide net income (loss) for the corporation to income (loss) per the income statement of the corporation for U.S. income tax purposes.
 
Parts II and III reconcile financial statement net income (loss) for the U.S. tax return to total income (loss) on Form 1120S, Schedule K.
 
Schedule M-3 (Form 1120-S)PDF

Instructions for Schedule M-3 (Form 1120-S) (Print VersionPDF)

Instructions for Schedule D (Form 1120-S) (Print VersionPDF)

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