Tax Guide 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 ... Tax Guide 1065 Schedule K-1: Share of Partnership Profits or Losses If you are involved in a business partnership, you know that the income from your business “passes through” the partnership and is taxed as your income. Yet the IRS ...