Federal Shareholder’s Share of Income, Deductions, Credits, etc.
Extracted from PDF file 2018-federal-1120-s-schedule-k-1.pdf, last modified November 2018
Shareholder’s Share of Income, Deductions, Credits, etc.671117 2018 Schedule K-1 (Form 1120S) Department of the Treasury Internal Revenue Service beginning / Part III Shareholder’s Share of Current Year Income, Deductions, Credits, and Other Items For calendar year 2018, or tax year Ordinary business income (loss) / 2 Net rental real estate income (loss) 3 Other net rental income (loss) 4 Interest income / 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) Shareholder’s identifying number 8c Unrecaptured section 1250 gain E Shareholder’s name, address, city, state, and ZIP code 9 . 14 Foreign transactions . . 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 % For IRS Use Only Shareholder’s percentage of stock ownership for tax year . . . . Credits 8b Collectibles (28%) gain (loss) Information About the Shareholder D F 13 8a Net long-term capital gain (loss) IRS Center where corporation filed return Part II OMB No. 1545-0123 Amended K-1 1 Shareholder’s Share of Income, Deductions, ▶ See back of form and separate instructions. Credits, etc. Part I Final K-1 * See attached statement for additional information. For Paperwork Reduction Act Notice, see the Instructions for Form 1120S. www.irs.gov/Form1120S Cat. No. 11520D Schedule K-1 (Form 1120S) 2018 Schedule K-1 (Form 1120S) 2018 Page 2 This list identifies the codes used on Schedule K-1 for all shareholders and provides summarized reporting information for shareholders who file Form 1040. For detailed reporting and filing information, see the separate Shareholder’s Instructions for Schedule K-1 and the instructions for your income tax return. Ordinary business income (loss). Determine whether the income (loss) is passive or nonpassive and enter on your return as follows: Report on Passive loss See the Shareholder’s Instructions Passive income Schedule E, line 28, column (h) Nonpassive loss See the Shareholder’s Instructions Nonpassive income Schedule E, line 28, column (k) 2. Net rental real estate income (loss) See the Shareholder’s Instructions 3. Other net rental income (loss) Net income Schedule E, line 28, column (h) Net loss See the Shareholder’s Instructions 4. Interest income Form 1040, line 2b 5a. Ordinary dividends Form 1040, line 3b 5b. Qualified dividends Form 1040, line 3a 6. Royalties Schedule E, line 4 7. Net short-term capital gain (loss) Schedule D, line 5 8a. Net long-term capital gain (loss) Schedule D, line 12 8b. Collectibles (28%) gain (loss) 28% Rate Gain Worksheet, line 4 (Schedule D instructions) 8c. Unrecaptured section 1250 gain See the Shareholder’s Instructions 9. Net section 1231 gain (loss) See the Shareholder’s Instructions 10. Other income (loss) Code A Other portfolio income (loss) See the Shareholder’s Instructions B Involuntary conversions See the Shareholder’s Instructions C Sec. 1256 contracts & straddles Form 6781, line 1 D Mining exploration costs recapture See Pub. 535 E Section 951A income F Section 965(a) inclusion See the Shareholder’s Instructions G Subpart F income other than sections 951A and 965 inclusion H Other income (loss) 11. Section 179 deduction See the Shareholder’s Instructions 12. Other deductions A Cash contributions (60%) B Cash contributions (30%) C Noncash contributions (50%) D Noncash contributions (30%) See the Shareholder’s Instructions E Capital gain property to a 50% organization (30%) F Capital gain property (20%) G Contributions (100%) H Investment interest expense Form 4952, line 1 I Deductions—royalty income Schedule E, line 19 J Section 59(e)(2) expenditures See the Shareholder’s Instructions K Section 965(c) deduction See the Shareholder’s Instructions L Deductions—portfolio (other) Schedule A, line 16 M Preproductive period expenses See the Shareholder’s Instructions N Commercial revitalization deduction from rental real estate activities See Form 8582 instructions O Reforestation expense deduction See the Shareholder’s Instructions P through R Reserved for future use S Other deductions See the Shareholder’s Instructions 13. Credits A Low-income housing credit (section 42(j)(5)) from pre-2008 buildings B Low-income housing credit (other) from pre-2008 buildings C Low-income housing credit (section See the Shareholder’s 42(j)(5)) from post-2007 buildings Instructions D Low-income housing credit (other) from post-2007 buildings E Qualified rehabilitation expenditures (rental real estate) F Other rental real estate credits G Other rental credits H Undistributed capital gains credit Schedule 5 (Form 1040), line 74, box a I Biofuel producer credit J Work opportunity credit K Disabled access credit See the Shareholder’s L Empowerment zone employment credit Instructions M Credit for increasing research activities N Credit for employer social security and Medicare taxes 1. 14. } } See the Shareholder’s Instructions O Backup withholding See the Shareholder’s Instructions P Other credits Foreign transactions A Name of country or U.S. possession Form 1116, Part I B Gross income from all sources C Gross income sourced at shareholder level Foreign gross income sourced at corporate level D Section 951A category E Foreign branch category Form 1116, Part I F Passive category G General category H Other Deductions allocated and apportioned at shareholder level I Interest expense Form 1116, Part I J Other Form 1116, Part I Deductions allocated and apportioned at corporate level to foreign source income K Section 951A category L Foreign branch category Form 1116, Part I M Passive category N General category O Other Other information P Total foreign taxes paid Form 1116, Part II Q Total foreign taxes accrued Form 1116, Part II R Reduction in taxes available for credit Form 1116, line 12 S Foreign trading gross receipts Form 8873 T Extraterritorial income exclusion Form 8873 U Section 965 information See the Shareholder’s Instructions V Other foreign transactions See the Shareholder’s Instructions Alternative minimum tax (AMT) items A Post-1986 depreciation adjustment B Adjusted gain or loss See the Shareholder’s Instructions C Depletion (other than oil & gas) and the Instructions for Form 6251 D Oil, gas, & geothermal—gross income E Oil, gas, & geothermal—deductions F Other AMT items Items affecting shareholder basis Form 1040, line 2a A Tax-exempt interest income B Other tax-exempt income C Nondeductible expenses See the Shareholder’s Instructions D Distributions E Repayment of loans from shareholders Other information A Investment income Form 4952, line 4a B Investment expenses Form 4952, line 5 C Qualified rehabilitation expenditures (other than rental real estate) See the Shareholder’s Instructions D Basis of energy property See the Shareholder’s Instructions E Recapture of low-income housing credit (section 42(j)(5)) Form 8611, line 8 F Recapture of low-income housing credit (other) Form 8611, line 8 G Recapture of investment credit See Form 4255 H Recapture of other credits See the Shareholder’s Instructions I Look-back interest—completed long-term contracts See Form 8697 J Look-back interest—income forecast method See Form 8866 K Dispositions of property with section 179 deductions L Recapture of section 179 deduction M through U V Section 199A income W Section 199A W-2 wages See the Shareholder’s Instructions X Section 199A unadjusted basis Y Section 199A REIT dividends Z Section 199A PTP income AA Excess taxable income AB Excess business interest income AC Other information } } } } } Report on Code 15. 16. 17. } } }
2018 Form 1120 S (Schedule K-1)
More about the Federal 1120-S (Schedule K-1) Corporate Income Tax Tax Credit
We last updated the Shareholder’s Share of Income, Deductions, Credits, etc. in December 2018, and the latest form we have available is for tax year 2018. This means that we don't yet have the updated form for the current tax year. Please check this page regularly, as we will post the updated form as soon as it is released by the Federal Internal Revenue Service. 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 PH)||U.S. Personal Holding Company (PHC) Tax|
|1120-S (Schedule D)||Capital Gains and Losses and Built-in Gains|
|1120 (Schedule H)||U.S. Income Tax Return for Homeowners Associations|
|1120 (Schedule O)||Consent Plan and Apportionment Schedule for a Controlled Group|
|1120 (Schedule D)||Capital Gains and Losses|
|Form 1120-SF||U.S. Income Tax Return for Settlement Funds (Under Section 468B)|
|1120 (Schedule N)||Foreign Operations of U.S. Corporations|
|1120 (Schedule B)||Additional Information for Schedule M-3 Filers|
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 December 2018.
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 eight 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:
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.