Have a Tax Question? Ask a Tax Expert
Hi & thanks for using our service. I'll do my best to give you a complete & accurate answer. Please ask me to clarify anything you don't understand.
No. You need to file form 1120-S. The k-1(and instructions) will indicate where the flow-through items go on your personal returns.
It won't be on Schedule C; the flow-through income will appear on Schedule E.
oh, ok. I also have a P.C. Do I need to file a separate return for that?
A separate professional corporation?
Yes. You'll need another return for that entity.