INSTRUCTIONS: SHAREHOLDER'S SHARE OF INCOME, DEDUCTIONS, CREDITS, ETC. (Form 1120S) SCHEDULE K-1

Corporations filing estimated federal tax payments using a form 1120 use a Schedule K-1 supplement to form 1120S to document their shareholders' share of income, deductions and similar financial components. This document can be obtained from the website of the Internal Revenue Service.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 1: If not filing for the tax year printed on the form, enter the beginning and ending dates of your fiscal year where indicated. If filing an amended or final Schedule K-1, indicate this with a check mark.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 2: Part I requires information about the corporation. In box A, enter your employer identification number.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 3: In box B, enter your corporation name and address.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 4: In box C, enter the IRS center with which the corporation last filed its return.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 5: Part II concerns information about the shareholder in question. In box D, enter the shareholder's identifying number.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 6: In box E, enter the shareholder's name and address.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 7: In box F, enter the shareholder's percentage of stock ownership for the given tax year.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 8: Part III documents the shareholder's current share of current year income and other items. In box 1, enter their share of ordinary business income or loss.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 9: In box 2, enter their share of net real estate income or loss.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 10: In box 3, enter their share of other net rental income or loss.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 11: In box 4, enter their share of interest income.

Shareholder's Share Of Income, Deductions, Credits, Etc. 1120S Schedule K-1 Step 12: Complete boxes 5 through 17 as instructed.