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

Schedule B-1 (Form 1120-S), Information on Certain Shareholders of an S Corporation

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 D (Form 1120-S), Capital Gains and Losses and Built-in Gains

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 K-1 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc.

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-2 (Form 1120-S), Shareholders’ Pro Rata Share Items—International

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-3 (Form 1120-S), Shareholder’s Share of Income, Deductions, Credits, etc.—International

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 M-3 (Form 1120-S), Net Income (Loss) Reconciliation for S Corporations With Total Assets of $10 Million or More

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.