Form Instructions 1120-S (Schedule K-1) Bend Oregon 2024-2025

Form Instructions 1120-S (Schedule K-1) Bend Oregon: What You Should Know

A corporation is considered a pass-through and is taxed as a partnership. Shareholders can elect to report each shareholder's share on their individual state income tax return if a return is required (although doing so generally costs the shareholders nothing). You are not required to report your share of income from the sale or transfer by your S corporation of your shares of S corporation stock, and you are not required to report the amount of any capital gain or loss from such a sale or transfer. If the shareholder elects to report his or her share on an individual income tax return, the shareholder is required to use the information listed on the shareholder's individual return (which is the same information provided to you) whenever he or she chooses to report income derived from the S corporation. However, shareholder reports from non-S corporation entities (other than from a corporation other than an S corporation) do not have to be included in a shareholder's personal income tax return; that is, the shareholder may elect, on a schedule provided with the Form 100S that is made part of his or her tax return, to include the gain from the sale of stock in other taxable business income.

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