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

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

Form 1120-S, Utah, Schedule K-1. Instructions for Form 1120-S on page 1 of. Schedule K-1, Part I, line 7. Instructions for Form 1120-S Schedule I, line 3. Instructions for Schedule K-1, Part II, line 27. Instructions for Form 1120-S Schedule K-1, Part III, line 31. Instructions for Form 1120-S Schedule K-1. Part II. Line 24. Line 24. Line 22. Line 22. Line 23. If you are a nonresident alien, and you didn't pay the U.S. income tax, your Schedule K-1, Part II, line 29, must show your source of income. You must choose “self-employment” under the “Employment.” You must choose “other business activity” under the “Other business activities.” If you are a nonresident alien, and you did not pay the U.S. income tax, but claim self-employment income or other business income on line 29, have it checked off and write them on your return. You can't use Form 1120-S (Schedule K-1) or Utah Form 1120-S (Schedule H) to figure your share of California S corporation income. Use California S Corporation Tax, below. Use the 2025 Form 5498 to figure your share of corporate income tax. Use the 2025 Form 5498 to figure your share of federal capital gains tax and nondeductible investment expenses (including state income taxes) from your shares of California S corporations. Use the 2025 Form 5498 to figure your share of non-business capital gains. How to File Form 5498. Use Schedule K-1, Part I, line 17. Use Schedule K-1, Part II, line 25. Use Schedule K-1, Part III, line 29. If you are a nonresident alien, and you didn't pay the U.S. income tax, your Schedule K-1, Part II, line 29, must show your source of income. You must choose “self-employment” or “other business activity.” You must choose “other” under the “Other business activities.” Line 29 has to be checked off under “Other.” Line 29 can't be a 0. Line 29 has to be checked off.

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