Form 1120S Schedule K-1: S-Corporation Shareholder Profits

Continuing the conversation from last week about tax forms for corporations, there’s another type of Schedule K-1, for S Corporations. The tax return for an S corporation is the Form 1120S, but because S corporations “pass through” their profits to shareholders, the IRS requires that corporations fill out a Schedule K-1 for each shareholder. On this Schedule, the corporation will break down that shareholder’s portion of the profits (or losses) from that tax year.

The S corporation should be sure to send a copy of the Schedule K-1 to the shareholder, as they will use the information on their individual tax return.

Do you run an S corporation and need to fill out a Schedule K-1? Click here to get started on filling out an IRS Form 1120S Schedule K-1 on PDFfiller. And PDFfiller can help you with the rest of your tax forms too, so you can be done with tax season faster than ever!



Make your document management easier and more efficient with PDFfiller.

Get a 30-day free trial