Schedule K-1 (Form 1120-S)

Form 1040 - Schedule K-1 (Form 1120-S) Overview

Schedule K-1 (Form 1120-S) is a source document that is filed with the S corporation income tax return (Form 1120-S).

Form 1040 - Schedule K-1 (Form 1120-S) Entity Information

Form 1040 - Schedule K-1 (Form 1120-S) Income

$ Enter here as a positive number the unallowed loss, if any, as shown on last year's Form 8582 Part VII column (c) for this entity.

Form 1040 - Schedule K-1 (Form 1120-S) Credit and Other Information

13A Form 7213 Part II - Zero-emission nuclear power production credit - The amount entered is for reference purposes only and does not carry to any form.

Form 1040 - Schedule K-1 (Form 1120-S) Other Deductions

$ The amount of Section 179 deduction the taxpayer is allowed to deduct is subject to the dollar limitation and the business income limitation.

Form 7203 - S Corporation Shareholder Stock and Debt Basis Limitations

Form 7203 is used by shareholders of an S corporation to determine if there are any limitations on their share of the S corporation's deductions, credits, and other items.