Federal Shareholder’s Share of Income, Deductions, Credits, etc.
Extracted from PDF file 2020-federal-1120-s-schedule-k-1.pdf, last modified November 2020
Shareholder’s Share of Income, Deductions, Credits, etc.671120 2020 Schedule K-1 (Form 1120-S) Department of the Treasury Internal Revenue Service / beginning / Part III Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items 1 Ordinary business income (loss) / 2 Net rental real estate income (loss) 3 Other net rental income (loss) 4 Interest income 2020 ending / Information About the Corporation A Corporation’s employer identification number 5a Ordinary dividends B Corporation’s name, address, city, state, and ZIP code 5b Qualified dividends C 6 Royalties 7 Net short-term capital gain (loss) D Shareholder’s identifying number 8c Unrecaptured section 1250 gain E Shareholder’s name, address, city, state, and ZIP code 9 Current year allocation percentage . G Shareholder’s number of shares Beginning of tax year End of tax year H . . Credits 14 Foreign transactions 8b Collectibles (28%) gain (loss) Information About the Shareholder F 13 8a Net long-term capital gain (loss) IRS Center where corporation filed return Part II OMB No. 1545-0123 Amended K-1 For calendar year 2020, or tax year Shareholder’s Share of Income, Deductions, ▶ See separate instructions. Credits, etc. Part I Final K-1 . . . . . . . . . . . . Net section 1231 gain (loss) 10 Other income (loss) 15 Alternative minimum tax (AMT) items 11 Section 179 deduction 16 Items affecting shareholder basis 12 Other deductions 17 Other information % Loans from shareholder Beginning of tax year . . . . . . $ . . . . . $ For IRS Use Only End of tax year . 18 More than one activity for at-risk purposes* 19 More than one activity for passive activity purposes* * See attached statement for additional information. For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S. www.irs.gov/Form1120S Cat. No. 11520D Schedule K-1 (Form 1120-S) 2020
2020 Schedule K-1 (Form 1120-S)
More about the Federal 1120-S (Schedule K-1) Corporate Income Tax Tax Credit TY 2020
We last updated the Shareholder’s Share of Income, Deductions, Credits, etc. in January 2021, so this is the latest version of 1120-S (Schedule K-1), fully updated for tax year 2020. You can download or print current or past-year PDFs of 1120-S (Schedule K-1) directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Corporate Income Tax Forms:
|Form Code||Form Name|
|Form 1120-S||U.S. Income Tax Return for an S Corporation|
|1120 (Schedule G)||Information on Certain Persons Owning the Corporation's Voting Stock|
|1120 (Schedule H)||U.S. Income Tax Return for Homeowners Associations|
|1120-S (Schedule B-1)||Information on Certain Shareholders of an S Corporation|
|1120 (Schedule B)||Additional Information for Schedule M-3 Filers|
|1120 (Schedule D)||Capital Gains and Losses|
|1120 (Schedule M-3)||Net Income (Loss) Reconciliation for Corporations With Total Assets of $10 Million or More|
|1120 (Schedule N)||Foreign Operations of U.S. Corporations|
|1120 (Schedule O)||Consent Plan and Apportionment Schedule for a Controlled Group|
|1120 (Schedule PH)||U.S. Personal Holding Company (PHC) Tax|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal 1120-S (Schedule K-1) from the Internal Revenue Service in January 2021.
1120-S (Schedule K-1) is a Federal Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Federal 1120-S (Schedule K-1)
We have a total of ten past-year versions of 1120-S (Schedule K-1) in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2020 Schedule K-1 (Form 1120-S)
2019 Schedule K-1 (Form 1120-S)
2018 Form 1120 S (Schedule K-1)
2017 Form 1120 S (Schedule K-1)
2016 Form 1120 S (Schedule K-1)
2015 Form 1120 S (Schedule K-1)
2014 Form 1120 S (Schedule K-1)
2013 Form 1120 S (Schedule K-1)
2012 Form 1120 S (Schedule K-1)
2011 Form 1120 S (Schedule K-1)
While we do our best to keep our list of Federal Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.