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Tax.appeal.168, Tax Accountant
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Experience:  3+ decades of varied tax industry exp. Tax Biz owner
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How do I include the information on my tax return (1120) of

Customer Question

How do I include the information on my tax return (1120) of the K1 forms I received
Submitted: 1 year ago.
Category: Tax
Expert:  Tax.appeal.168 replied 1 year ago.

When you're completing the Form 1120, within the program, certain information is asked about the officers percentage of ownership, capital contribution, etc. Once you include the information about the officers, that information automatically transfers over to the Schedule K-1. The Schedule K-1 is not a form that you will separately complete within the return.

Let me know if you require further assistance with this matter.

Expert:  Tax.appeal.168 replied 1 year ago.

Additional informatiom.

I reread your question. If you're asking where on the 1120 does information from the Schedule K-1 go, the answer is nowhere. Information from the Schedule K-1 is reported on the individual tax return (1040), not the corporate return. A Schedule K-1 is generated within a corporate return.