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Form 1120-SSK: 1120-S (Schedule K-1)
IRS Form 1120-S Schedule K-1 is used by S corporation shareholders to report their share of income, deductions, credits, and other items. The corporation must report amounts totaling $10 or more for the calendar year on Form 1099-DIV. Shareholders must report items consistently with the corporation's return or file Form 8082 to avoid penalties.
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IRS Form 1120-SSK - 1120-S (Schedule K-1)
IRS Form 1120-S Schedule K-1 is used by S corporation shareholders to report their share of income, deductions, credits, and other items. The corporation must report amounts totaling $10 or more for the calendar year on Form 1099-DIV. Shareholders must report items consistently with the corporation's return or file Form 8082 to avoid penalties.
Risk Radar
Scan points- 1Inconsistent reporting without Form 8082 triggers accuracy-related penalty.
- 2Reporting items inconsistently with the corporation's return without filing Form 8082
- 3Failing to increase stock basis by all income reported on Schedule K-1
- 4Failing to decrease stock basis for distributions reported in box 16, code D
- 5Not reporting gambling gains and losses as required in box 11, code K
Plain English
This form shows each S corporation shareholder their portion of the corporation's income, deductions, and credits. Shareholders use this information to fill out their personal tax return. The form also helps track adjustments to the shareholder's stock basis.
Submission Date
- Filing date: 2026-01-13 09:10:48
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when you are an S corporation shareholder and need to report your share of income, deductions, credits, and other items from the corporation.
- Do not use it when you are not a shareholder of an S corporation or when you are filing as a corporation.
- Check Form 8283 instead when you need to report noncash charitable contributions, as the S corporation provides a copy of Form 8283 that you must attach to your return.
Form selector
Use this form or another form?
Situation: You have passive activity losses or credits from the S corporation.
Why it matters: To figure allowable passive losses and credits, as they may be limited.
✓ Check before you continue: Review the passive activity limitations and determine if you materially participated.
Situation: The corporation had operations related to a boycotting country.
Why it matters: You must file Form 5713 to report boycott operations and avoid losing tax benefits.
✓ Check before you continue: Confirm if the corporation provided a copy of its Form 5713.
Situation: You need to report net investment income tax.
Why it matters: To figure and report the Net Investment Income Tax.
✓ Check before you continue: See Form 8960 instructions for details.
Deadline or filing window
Not stated in the official source.
Checklist
What you need before filling it out
Field or section: Box 12 - Other Deductions
Document or info needed: Schedule K-1 showing code and amount · Usually found in: Form 1120-S Schedule K-1
Field or section: Box 17 - Code BA (Domestic research expenditures)
Document or info needed: Information from corporation on section 59(e) election · Usually found in: Attached statement or Schedule K-1
Field or section: Form 8283 attachment
Document or info needed: Copy of Form 8283 from corporation · Usually found in: Corporation's provided documents
Field or section: Passive activity loss
Document or info needed: Form 8582 · Usually found in: Your tax return
Field or section: International boycott
Document or info needed: Form 5713 · Usually found in: Your tax return if applicable
Field or section: Net Investment Income Tax
Document or info needed: Form 8960 · Usually found in: Your tax return if applicable
Before you submit
- 1Confirm you have received Schedule K-1 from the corporation.
- 2Check if Box 19 is checked and review attached statement for activity breakdown.
- 3Determine your material participation in each trade or business activity.
- 4Calculate passive activity loss using Form 8582 if applicable.
- 5Attach Form 8283 copy if provided by corporation.
- 6Report international boycott on Form 5713 if required.
- 7Report net investment income tax on Form 8960 if applicable.
- 8Sign and date your tax return.
- 9Keep a copy of Schedule K-1 and all attachments.
How to file this form
- 1Receive Schedule K-1 from the S corporation.
- 2Review the schedule for any attached statements (Box 19).
- 3Determine if you have passive activities and compute allowable losses using Form 8582.
- 4If applicable, complete Form 8283 for noncash contributions using the corporation's information.
- 5If applicable, complete Form 5713 for international boycott.
- 6If applicable, complete Form 8960 for net investment income tax.
- 7Report the amounts from Schedule K-1 on your individual tax return (Form 1040).
- 8Attach any required forms and copies.
- 9Sign and file your tax return by the due date.
- 10Keep a copy of all documents.
Known limitations
- 1Deductions reported in box 12 may be limited by the limitations on losses, deductions, and credits.
- 2Passive activity losses and credits are subject to limitations; you must determine material participation.
- 3International boycott cooperation may result in loss of certain tax benefits.
- 4Special rules apply for certain activities (e.g., rental real estate) as identified by the corporation.
- 5The corporation decides how to figure taxable income; shareholders generally cannot change the method.
Field map
Compact field-by-field guide
Entity Info
2 items
Full legal name of the corporation and its Employer Identification Number.
Current mailing address and date of incorporation.
Income
3 items
Total revenue from business operations before deducting costs.
Direct costs attributable to producing goods sold by the corporation.
Gross receipts minus cost of goods sold and returns/allowances.
Deductions
1 items
Sum of all business expenses including compensation, rent, interest, taxes, and depreciation.
Tax
2 items
Total income minus total deductions.
Tax calculated on taxable income using the applicable corporate tax rate, minus any credits.
Signatures
1 items
An authorized corporate officer must sign and date the return.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is the 2025 instructions for Schedule K-1 (Form 1120-S). The source points to IRS.gov/Form1120S for latest information. New this year: Box 12 code X expanded to include qualified sound recording production expenses under P.L. 119-21; Box 17 code BA added for domestic research and experimental expenditures for section 59(e) election.
What changed or needs a fresh check
- Edition date — Confirm you are using the 2025 instructions for Schedule K-1 (Form 1120-S).
- Box 19 — Check if the corporation attached a statement identifying each activity; if so, Box 19 will be checked.
- International boycott — Confirm if the corporation had operations related to a boycotting country and if it provided a copy of Form 5713.
- Passive activity — Determine if you materially participated in each trade or business activity to apply passive activity limitations.
- Mailing address — Not stated in the official source — use the address on the corporation's tax return or IRS.gov.
- Fee — Not stated in the official source — no fee is required for filing this schedule.
Quick Facts
Downloads
After you file
- 1Retain a copy of Schedule K-1 and all attachments for your records.
- 2Keep copies of Form 8283 and Form 5713 if filed.
- 3Monitor for any correspondence from the IRS regarding the return.
- 4If you discover an error, file an amended return (Form 1040-X) and attach corrected Schedule K-1 if needed.
- 5Check the status of your refund using IRS.gov.
- 6Store documents for at least 3 years from filing date.
Sources
- SRCInstructions p.1 — The instructions are for 2025 and include updates for Code X and Code BA.
- SRCInstructions p.2 — International boycott requires Form 5713.
- SRCInstructions p.4 — Passive activity loss limitations apply; use Form 8582.
- SRCInstructions p.4 — Box 19 checked when statement attached.
- SRCInstructions p.5 — MAGI limits for special allowance for rental real estate.
- SRCInstructions p.9 — Box 12 deductions may be limited.
- SRCInstructions p.10 — Form 8283 must be attached and use Schedule K-1 amount.
- SRCInstructions p.12 — Code F and G for rental credits.
Common confusion points
Confusion: Do I need to file Form 5713?
Why it happens: The corporation may have boycott operations; you must file if the corporation cooperated.
→ Safe check: Check if the corporation provided a copy of its Form 5713.
Confusion: How do I report passive activity losses?
Why it happens: The losses may be limited; use Form 8582.
→ Safe check: Determine if you materially participated.
Confusion: What is code BA in box 17?
Why it happens: It's for domestic research expenditures for section 59(e) election.
→ Safe check: Check the attached statement for details.
Confusion: Can I use the amount on Form 8283 from the corporation?
Why it happens: The corporation provides a copy, but you must use the Schedule K-1 amount.
→ Safe check: Compare the amounts and use the Schedule K-1 figure.
Confusion: What if the corporation had more than one activity?
Why it happens: The corporation will attach a statement identifying each activity.
→ Safe check: Check if Box 19 is checked.
Confusion: How do I figure net investment income tax?
Why it happens: Use Form 8960.
→ Safe check: See Form 8960 instructions.
Workflow map
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Questions about IRS Form 1120-SSK
What is IRS Form 1120-SSK used for?
This form shows each S corporation shareholder their portion of the corporation's income, deductions, and credits. Shareholders use this information to fill out their personal tax return. The form also helps track adjustments to the shareholder's stock basis.
Who must file IRS Form 1120-SSK?
S corporation shareholders must use Schedule K-1 (Form 1120-S) to report their share of the corporation's income, deductions, and credits on their individual tax returns.
What information does IRS Form 1120-SSK require?
Part I collects the corporation's EIN, name, address, and IRS center. Part II collects the shareholder's identifying number and address. Boxes 1 through 19 list the shareholder's share of income, deductions, credits, and other items.
How do I complete IRS Form 1120-SSK?
The corporation completes Part I with its EIN, name, address, and IRS center where it filed its return. Part II identifies the shareholder. The corporation then enters the shareholder's share of each item in boxes 1-19 based on its records. The form must be provided to the shareholder.
What happens if IRS Form 1120-SSK is filed incorrectly?
If you report items inconsistently with the corporation's return and do not file Form 8082, you may be subject to the accuracy-related penalty.
Confusion: Do I need to file Form 5713?
Why it happens: The corporation may have boycott operations; you must file if the corporation cooperated. Safe check: Check if the corporation provided a copy of its Form 5713.
Confusion: How do I report passive activity losses?
Why it happens: The losses may be limited; use Form 8582. Safe check: Determine if you materially participated.
Confusion: What is code BA in box 17?
Why it happens: It's for domestic research expenditures for section 59(e) election. Safe check: Check the attached statement for details.
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