1120-S

Shareholder’s Share of Income, Deductions, Credits, etc.

Agency
IRS
Revision
2025
Fillable fields
114
Pages
1
Official source
IRS form page
Checked
October 21, 2026
Fill 1120-S online
Page 1 of form 1120-S

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

Schedule K-1 (Form 1120-S) is the Shareholder's Share of Income, Deductions, Credits, etc. The shareholder's instructions say the corporation uses Schedule K-1 to report your share of the corporation's income, deductions, credits, and other items, and that the corporation files a copy of Schedule K-1 with the IRS.

The S corporation completes the schedule, one for each shareholder. The shareholder receives a copy and uses it with the separate Shareholder's Instructions for Schedule K-1 (Form 1120-S) to report the items on their own return. The instructions say the shareholder keeps it for their records and does not file it with the return unless backup withholding is reported in box 13 using code O.

This page covers the 2025 schedule, for calendar year 2025 or a tax year beginning in 2025. You can fill it out free in your browser on this page and download it without an account.

Top of page 1 of Schedule K-1 (Form 1120-S): Shareholder's Share of Income, Deductions, Credits, etc., as printed by IRS

What's on Schedule K-1 (Form 1120-S)

Tax year and status

Calendar year 2025 or a tax year beginning and ending date, and checkboxes for a Final K-1 or an Amended K-1.

Part I: the corporation

Item A the corporation's EIN, B its name and address, C the IRS Center where it filed its return, and D its total number of shares at the beginning and end of the tax year.

Part II: the shareholder

Item E identifying number, F1 name and address, F2 and F3 the responsible party and entity type, G current year allocation percentage, H number of shares and I loans from shareholder.

Boxes 1 to 10: income

Ordinary business income, net rental real estate and other rental income, interest, ordinary and qualified dividends, royalties, capital gains, net section 1231 gain and other income.

Boxes 11 to 13: deductions and credits

The section 179 deduction, other deductions and credits, with codes in boxes 12 and 13 identifying each item.

Boxes 14 to 19

A check that Schedule K-3 is attached, alternative minimum tax items, items affecting shareholder basis, other information, and checks for more than one activity for at-risk or passive activity purposes.

How Schedule K-1 (Form 1120-S) is filled out

  1. 1

    Tax year and Part I

    Enter calendar year 2025 or the fiscal year dates, then the corporation's EIN, name and address, the IRS Center where it filed, and its total shares at the beginning and end of the year.

  2. 2

    Part II

    Enter the shareholder's identifying number, name and address, allocation percentage, shares and loans. The instructions say the shareholder's copy may show only the last four digits of the number.

  3. 3

    Items F2 and F3

    For a shareholder that is a disregarded entity, a trust, an estate, or a nominee or similar person, the form asks for the TIN and name of whoever is responsible for reporting, and the type of entity.

  4. 4

    Codes and statements

    The instructions say that in boxes 10, 12, 13, and 15 through 17 the corporation enters a code to the left of each amount, and an asterisk, or STMT, when a statement is attached.

  5. 5

    Box 14

    Checked when Schedule K-3 is attached. If it is not checked, the instructions say the corporation attached a statement saying the shareholder will not receive Schedule K-3 unless they request it.

  6. 6

    Boxes 18 and 19

    The instructions say the corporation checks these when it has more than one activity for at-risk or passive activity purposes and attaches a statement.

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Where it goes and what the shareholder does with it

Copy to the IRS

The instructions say the corporation files a copy of Schedule K-1 with the IRS. Form 1120-S and its due date are covered on the About Form 1120-S page and in its instructions.

Shareholder's copy

Keep it for your records. The instructions say not to file it with the tax return unless backup withholding is reported in box 13 using code O, in which case a copy or a statement goes with the return.

Errors

The instructions say to notify the corporation and ask for a corrected Schedule K-1, and not to change items on your copy. Form 8082 is used if no agreement is reached.

Fiscal year corporations

The instructions say a calendar-year shareholder reports the amounts on the return for the year in which the corporation's fiscal year ends, for example a February 2026 year end on the 2026 return.

Dividends and basis

The schedule does not show actual dividend distributions, which the corporation reports on Form 1099-DIV when they total $10 or more. The instructions point shareholders to Form 7203 to figure stock and debt basis.

Related forms

Who fills out Schedule K-1 (Form 1120-S)?

  • S corporations

    The About Form 1120-S page says the S corporation files a copy of this schedule with the IRS to report each shareholder's share of the corporation's income, deductions, credits, etc.

  • Shareholders who receive it

    The shareholder uses the amounts on the schedule for their own return. The instructions say the amounts in boxes 1 through 17 are shown without reference to basis, at-risk, passive activity or excess business loss limits.

  • Entity and nominee shareholders

    Item F2 asks, when the shareholder is a disregarded entity, a trust, an estate, or a nominee or similar person, for the TIN and name of the individual or entity responsible for reporting.

  • Executors of an estate

    The instructions say an executor who received a decedent's Schedule K-1 notifies the S corporation of the name and TIN of the decedent's estate if the stock is part of the estate.

The S corporation prepares it and files a copy with the IRS. Each shareholder receives a copy.

Official sources and the blank

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Questions about Form 1120-S

Who prepares Schedule K-1 (Form 1120-S)?

The S corporation. The instructions say the corporation uses it to report each shareholder's share of its items and files a copy with the IRS.

Do I attach Schedule K-1 to my tax return?

The instructions say not to file it with your return unless backup withholding is reported in box 13 using code O. Otherwise keep it for your records.

What if my Schedule K-1 looks wrong?

The instructions say to notify the corporation and ask for a corrected Schedule K-1, not to change your copy, and to file Form 8082 if you cannot reach an agreement.

Why does my K-1 show only part of my SSN?

The instructions say Schedule K-1 may show only the last four digits of your identifying number for your protection, while the corporation reports the complete number to the IRS.

Is S corporation income self-employment income?

The instructions say a shareholder's share of S corporation income isn't self-employment income and isn't subject to self-employment tax.

Which year does this schedule cover?

It is the 2025 schedule, for calendar year 2025 or a tax year beginning in 2025 and ending on the dates shown at the top.