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I received a k-1 for my shares of an S Corp and entered my Schedule K-1 (1120S) but can't find where to enter the K-1 (100s)? Do I need to enter both forms separately?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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It looks to me that both forms have the same info except for line 17(d) on 100s there is an amount and on 1120s its blank.

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Best answer by IsabellaG

If you are filing your own individual tax return, do not enter information from the 1120-S. That's a separate entity that filed its tax return. You don't copy it over into yours. I'm not even sure how you managed to do that. Delete any information that you may have entered from the 1120-S.

The K-1 is what you need to enter.

Go to the top of your screen and choose My Account.
Choose Tools.
Choose Topic Search, then type in your topic (K-1) and click Go.

See the screenshot below. It may be that you are the only shareholder, so all of the income and expenses belong to you, but the K-1 is the form that shows how this flows through to your personal return.

IsabellaGAnswer

Employee

If you are filing your own individual tax return, do not enter information from the 1120-S. That's a separate entity that filed its tax return. You don't copy it over into yours. I'm not even sure how you managed to do that. Delete any information that you may have entered from the 1120-S.

The K-1 is what you need to enter.

Go to the top of your screen and choose My Account.
Choose Tools.
Choose Topic Search, then type in your topic (K-1) and click Go.

See the screenshot below. It may be that you are the only shareholder, so all of the income and expenses belong to you, but the K-1 is the form that shows how this flows through to your personal return.

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T

ThisGuyNeedsHelpAuthor

Are you sure, because when entering k-1 for federal return it asks to 'Enter Percentage of Ownership from Box F' with instructions saying 'Tell us your percentage of ownership, as shown in Box F on the Schedule K-1' which is not available form K-1 (100S), shareholders percentage on form 100s is on line A there is no Box F, that info only matches what's available on Schedule K-1 (Form 1120S). If I understand Schedule K-1 (1120S) is for federal and (100s) is for state as it says California Schedule K-1 (100S).