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My question has to do with the Schedule K-1 (Form 1120S)

with the 2016 Corporate Federal...
My question has to do with the Schedule K-1 (Form 1120S) with the 2016 Corporate Federal tax return. There is a question whether it is a “Final K-1” or an “Amended K-1”. If each year a K-1 Schedule is sent to the same shareholder, do I leave this blank, or check “Final K-1,” since it is the final K-1 for the calendar year of 2016?
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2/4/2017
Robin D.
Robin D., Senior Tax Advisor 4
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You would check the box for FINAL if the S corporation has ceased business and no other K1 will ever be sent.

The only difference between completing an ongoing and a final K-1 is that you need to check the box at the top of the second column indicating this will be the S corporation's final K-1.

Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 15,958
Experience: 15years with H & R Block. Divisional leader, Instructor
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