Form 1120-S, U.S. Income Tax Return for an S Corporation Instructions

Enter the amount of post-1986 depreciation adjustment allocated to the shareholder for the tax year.

Enter the shareholder’s pro rata share of depletion deduction (other than oil and gas) for alternative minimum tax purposes, as reported on Schedule K-1, line 15c.

Enter the corporation’s gross income from oil, gas, and geothermal properties for Alternative Minimum Tax purposes. Provide the amount in whole U.S. dollars, omitting commas and cents. If the corporation has no such income, enter 0.

Enter the total deductions amount for oil, gas, and geothermal properties to be reported on Schedule K-1, line 15e.

Enter the total amount of the low-income housing credit under section 42(j)(5) to be reported on K-1, line 13a.

Enter the description or specific type of the other rental real estate credits claimed on Schedule K Line 13e.

Enter the dollar amount of other rental credits claimed for the tax year as reported on Schedule K, line 13e.

Enter the amount of biofuel producer credit from Form 6478 to report on Schedule K Line 13f.

Enter the ending balance for the Other Adjustments account at the end of the tax year.

Enter the total value reported as other current assets on line 6 at the end of the tax year (column d).

Enter the amount of loans to shareholders shown on the corporation’s books at the beginning of the tax year in column (a).

Enter the amount of loans to shareholders shown on the corporation’s books at the beginning of the tax year in column (b).

Enter the amount of loans to shareholders shown on the corporation’s books at the end of the tax year in column (c).

Enter the amount of loans to shareholders shown on the corporation’s books at the end of the tax year in column (d).

Enter the total mortgage and real estate loans reported on the corporation’s balance sheet at the beginning of the tax year (Schedule L, line 8, column (a)).

Enter the legal name of the S corporation as registered with the IRS.

Provide the corporation’s number, street, and room or suite number; if using a P.O. box, see IRS instructions.

Enter the city or town, state or province, country, and ZIP or foreign postal code where the corporation is located.

Enter the date the S corporation election became effective.

Enter the IRS business activity code number for the corporation’s principal business activity.

Enter the Employer Identification Number (EIN) assigned to the corporation by the IRS.

Enter the sum of Schedule M-1 lines 5 and 6.

Enter the total other low-income housing credit allocated to shareholders for the tax year from Schedule K, line 13b. Provide the amount as a whole-dollar figure; omit the dollar sign, commas, and cents. If no amount applies, enter 0.

Enter the total amount of qualified rehabilitation expenditures for rental real estate reported on Schedule K-1, line 13c (attach Form 3468, if applicable).

Enter the type or description of the other rental real estate credit to be reported on Schedule K-1, line 13d.

Enter the dollar amount of other rental real estate credits claimed for the tax year as reported on Schedule K, line 13d.

Enter the specific type or description of the other credit to be reported on Schedule K, line 13g.

Enter the dollar amount of the other credit to be reported on Schedule K, line 13g.

Enter the total amount of foreign taxes paid or accrued by the S corporation during the tax year to report on shareholders’ Schedule K-1, line 16f.

Enter the resulting income (loss) reconciliation amount for line 18 by combining the total amounts on lines 1 through 10 and subtracting the sum of the amounts on lines 11 through 12d and 16f.

Enter the S corporation’s cash balance at the beginning of the tax year for column (a).

Provide the book value of the corporation’s tax-exempt securities at the beginning of the tax year for Schedule L, line 5(a).

Enter the ending balance for the Shareholders’ Undistributed Taxable Income Previously Taxed account at the end of the tax year.

Enter the total salaries and wages paid during the tax year, less any employment credits claimed.

Enter the total costs paid for repairs and maintenance of business property and equipment during the tax year.

Enter the total amount of business bad debts charged off or written off during the tax year.

Enter the total amount of business-related taxes and license fees paid during the tax year.

Enter the total business interest expense paid or accrued during the tax year.

Enter the total depreciation expense from Form 4562 that was not claimed on Form 1125-A or elsewhere on the return.

Enter the total advertising and promotion expenses paid during the tax year.

Enter the deduction amount claimed for energy efficient commercial buildings and attach Form 7205.

Enter the total amount of other allowable business deductions during the tax year and attach a supporting statement if required.

Enter the corporation’s total deductions by adding lines 7 through 20 of Form 1120-S.

Enter the dollar amount of the Section 179 expense deduction allocated to the shareholder (reported on Schedule K-1, line 11).

Enter the total deductible charitable contributions made by the corporation for the tax year in whole dollars. Omit cents. If the corporation made no charitable contributions, enter 0.

Enter the dollar amount of the shareholder’s pro rata share of investment interest expense as reported on Schedule K, line 12b of Form 1120-S.

Enter the description or category of the Section 59(e)(2) expenditures to be reported on Schedule K-1 line 12c.

Enter the total dollar amount of the Section 59(e)(2) expenditures to be reported on Schedule K-1 line 12c.

Enter the code or brief description identifying the category of the Other Deductions reported on Schedule K-1, line 12d.

Enter the dollar amount of the Other Deductions reported on Schedule K-1, line 12d.

Enter the total amount of other alternative minimum tax items to be reported to shareholders on Schedule K-1 line 15f.

Enter the total amount of nondeductible expenses affecting the shareholder’s basis as reported on Schedule K-1, line 16c.

Provide the total amount of investment expenses to be reported on Schedule K, line 17b.

Enter the total value of U.S. government obligations held by the corporation at the beginning of the tax year.

Enter the travel and entertainment expenses recorded on the books this year that were not included on Schedule K, lines 1 through 12 and 16f.

Enter the depreciation amount included on Schedule K, lines 1 through 12 and 16f but not charged against book income this year.

Enter the ending balance for the Accumulated Adjustments Account at the end of the tax year.

Enter the book value of amortizable intangible assets at the end of the tax year as a negative amount enclosed in parentheses.

Enter the accumulated amortization for intangible assets at the beginning of the tax year in column (a) for line 13b.

Enter the accumulated amortization for intangible assets at the beginning of the tax year in column (b) for line 13b.

Enter the accumulated amortization for intangible assets at the end of the tax year in column (c) for line 13b.

Enter the accumulated amortization for intangible assets at the end of the tax year in column (d) for line 13b.

Enter the amount of other assets (attach statement) at the beginning of the tax year in column (a) of Schedule L, line 14.

Enter the amount of other assets (attach statement) at the beginning of the tax year in column (b) of Schedule L, line 14.

Enter the amount of other assets (attach statement) at the end of the tax year in column (c) of Schedule L, line 14.

Enter the amount of other assets (attach statement) at the end of the tax year in column (d) of Schedule L, line 14.

Enter the amount of total assets at the beginning of the tax year on Schedule L, line 15, column (a).

Enter the amount of total assets at the beginning of the tax year on Schedule L, line 15, column (b).

Enter the amount of total assets at the end of the tax year on Schedule L, line 15, column (c).

Enter the amount of total assets at the end of the tax year on Schedule L, line 15, column (d).

Enter the total accounts payable at the beginning of the tax year as reported on the balance sheet.

Enter the total accounts payable at the beginning of the tax year as reported on the balance sheet.

Enter the total accounts payable at the end of the tax year as reported on the balance sheet.

Enter the total accounts payable at the end of the tax year as reported on the balance sheet.

Enter the amount of mortgages, notes, and bonds payable in less than one year at the beginning of the tax year (Schedule L, line 17, column a).

Enter the amount of mortgages, notes, and bonds payable in less than one year at the beginning of the tax year (Schedule L, line 17, column b).

Enter the amount of mortgages, notes, and bonds payable in less than one year at the end of the tax year (Schedule L, line 17, column c).

Enter the amount of mortgages, notes, and bonds payable in less than one year at the end of the tax year (Schedule L, line 17, column d).

Enter the amount of other current liabilities at the beginning of the tax year in column (a).

Enter the amount of other current liabilities at the beginning of the tax year in column (b).

Enter the amount of other current liabilities at the end of the tax year in column (c).

Enter the amount of other current liabilities at the end of the tax year in column (d).

Enter the total amount of loans owed to the corporation by its shareholders at the beginning of the tax year shown in column (a).

Enter the total amount of loans owed to the corporation by its shareholders at the beginning of the tax year shown in column (b).

Enter the total amount of loans owed to the corporation by its shareholders at the end of the tax year shown in column (c).

Enter the total amount of loans owed to the corporation by its shareholders at the end of the tax year shown in column (d).

Enter the total amount of mortgages, notes, and bonds due in one year or more that were payable at the beginning of the tax year.

Enter the total amount of mortgages, notes, and bonds due in one year or more that were payable at the beginning of the tax year.

Enter the total amount of mortgages, notes, and bonds due in one year or more that were payable at the end of the tax year.

Enter the total amount of mortgages, notes, and bonds due in one year or more that were payable at the end of the tax year.

Enter the total amount of other liabilities at the beginning of the tax year for Schedule L line 21, column (a).

Enter the total amount of other liabilities at the beginning of the tax year for Schedule L line 21, column (b).

Enter the total amount of other liabilities at the end of the tax year for Schedule L line 21, column (c).

Enter the total amount of other liabilities at the end of the tax year for Schedule L line 21, column (d).

Enter the amount of the corporation’s capital stock at the beginning of the tax year for Schedule L, line 22, column (a).

Enter the amount of the corporation’s capital stock at the beginning of the tax year for Schedule L, line 22, column ( b ).

Enter the amount of the corporation’s capital stock at the end of the tax year for Schedule L, line 22, column (c).

Enter the amount of the corporation’s capital stock at the end of the tax year for Schedule L, line 22, column (d).

Enter the additional paid-in capital amount at the beginning of the tax year on Schedule L, line 23, column (a).

Enter the additional paid-in capital amount at the beginning of the tax year on Schedule L, line 23, column (b).

Enter the additional paid-in capital amount at the end of the tax year on Schedule L, line 23, column (c).

Enter the additional paid-in capital amount at the end of the tax year on Schedule L, line 23, column (d).

Enter the corporation’s retained earnings per books at the beginning of the tax year for line 24, column (a).

Enter the corporation’s retained earnings per books at the beginning of the tax year for line 24, column (b).

Enter the corporation’s retained earnings per books at the end of the tax year for line 24, column (c).

Enter the corporation’s retained earnings per books at the end of the tax year for line 24, column (d).

Enter the adjustment to shareholders’ equity for the beginning of the tax year in column (a) as reported on the attached statement.

Enter the adjustment to shareholders’ equity for the beginning of the tax year in column (b) as reported on the attached statement.

Enter the adjustment to shareholders’ equity for the end of the tax year in column (c) as reported on the attached statement.

Enter the total expenses amount from rental activities other than rental real estate for Schedule K-1, line 3b.

Enter the corporation’s total assets at the end of the tax year in U.S. dollars, as reported per IRS instructions.

Enter the month and day when the tax year begins.

Enter the month and day when the tax year ends.

Enter the last two digits of the year in which the tax year ends (for example, 23 for 2023).

Check this box if the corporation is attaching Schedule M-3 to this return.

Enter the date the corporation was incorporated.

Check this box if the corporation is electing to be an S corporation beginning with this tax year.

Check this box if the corporation is not electing to be an S corporation beginning with this tax year.

Check this box if this is the corporation’s final return for the tax year.

Check this box if the corporation changed its name during the tax year.

Check this box if the corporation changed its address during the tax year.

Check this box if the corporation is filing an amended return.

Check this box if the S corporation election was terminated during the tax year.

Enter the total number of shareholders who were shareholders at any time during the tax year.

Check this box if the corporation is electing to aggregate its activities for section 465 at-risk purposes.

Check this box if the corporation is electing to group its activities for section 469 passive activity purposes.

Enter the total amounts paid for renting business property, land, or equipment during the tax year.

Enter the total depletion expense claimed during the tax year (do not include oil and gas depletion).

Enter the total contributions to pension, profit-sharing, and other employee plans during the tax year.

Enter the total costs of employee benefit programs, such as health insurance and retirement benefits, during the tax year.

Enter the ordinary business income or loss by subtracting total deductions (line 21) from total income (line 6).

Enter the sum of lines 23a and 23b for additional taxes.

Enter the type of entity (for example, partnership, trust, or corporation) for the entity listed in Row 1. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the country under whose laws the entity listed in Row 1 is organized or incorporated. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the maximum percentage of profit, loss, or capital in the entity listed in Row 1 that the S corporation owns directly or indirectly. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the full legal name of the second entity in which the corporation holds an interest of 20% or more in profit, loss, or capital. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the nine-digit Employer Identification Number (EIN), if any, assigned to the second entity. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Specify the legal classification (for example, partnership or trust) of the second entity. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the country where the second entity is legally organized or formed. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Provide the maximum percentage of profit, loss, or capital interest the corporation owns in the second entity. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Provide the name of the foreign or domestic partnership, trust, or similar entity listed on row 3 in which the corporation directly or indirectly holds the required ownership interest. Fill only if the 'Own interest in partnership or trust (Line 4b)' is 'Yes'.

Enter the employer identification number (EIN) of the entity listed on row 3, if one has been assigned. Fill only if the 'Own interest in partnership or trust (Line 4b)' is 'Yes'.

Specify the type of entity on row 3, such as partnership or trust. Fill only if the 'Own interest in partnership or trust (Line 4b)' is 'Yes'.

Enter the country where the entity listed on row 3 is organized or incorporated. Fill only if the 'Own interest in partnership or trust (Line 4b)' is 'Yes'.

Provide the maximum percentage of profit, loss, or capital in the entity listed on row 3 that the corporation directly or indirectly owns. Fill only if the 'Own interest in partnership or trust (Line 4b)' is 'Yes'.

Enter the full legal name of the fourth entity (partnership or trust) in which the corporation owns the required interest. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the nine-digit Employer Identification Number (EIN) of the fourth entity, if it has one. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the legal type of the fourth entity (for example, partnership, trust, etc.). Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the country in which the fourth entity is organized. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the maximum percentage of profit, loss, or capital owned by the corporation in the fourth entity. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Check this box if the corporation had any outstanding shares of restricted stock at the end of the tax year.

Check this box if the corporation did not have any outstanding shares of restricted stock at the end of the tax year.

Check this box if at the end of the tax year the corporation had any outstanding stock options, warrants, or similar instruments.

Check this box if at the end of the tax year the corporation did not have any outstanding stock options, warrants, or similar instruments.

Check this box if the corporation has filed or is required to file Form 8918, Material Adviser Disclosure Statement, to provide information on any reportable transaction.

Check this box if the corporation has not filed and is not required to file Form 8918, Material Adviser Disclosure Statement, to provide information on any reportable transaction.

Check this box if the corporation issued publicly offered debt instruments with original issue discount.

Enter the S corporation’s net unrealized built-in gain reduced by the net recognized built-in gain from prior years.

Check if the corporation had an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year.

Check if the corporation did not have an election under section 163(j) for any real property trade or business or any farming business in effect during the tax year.

Check if the corporation satisfies one or more of the specified business interest expense exceptions.

Check if the corporation does not satisfy any of the specified business interest expense exceptions.

Check if the corporation’s total receipts and total assets for the tax year were each less than $250,000, indicating it is not required to complete Schedules L and M-1.

Check if the corporation’s total receipts or total assets for the tax year did not both fall below $250,000, indicating it must complete Schedules L and M-1.

Check if during the tax year the corporation had any non-shareholder debt that was canceled, forgiven, or had its terms modified to reduce the principal amount of the debt.

Check if during the tax year the corporation did not have any non-shareholder debt that was canceled, forgiven, or had its terms modified to reduce the principal amount of the debt.

Enter the dollar amount of principal reduction for any non-shareholder debt that was canceled, forgiven, or had its terms modified during the tax year. Fill only if the 'Did the corporation have any non-shareholder debt that was canceled, was forgiven, or had the terms modified so as to reduce the principal amount of the debt?' is 'Yes'.

Check this box if during the tax year a qualified subchapter S subsidiary election was terminated or revoked.

Check this box if during the tax year a qualified subchapter S subsidiary election was not terminated or revoked.

Check this box if the corporation made any payments in 2023 that would require it to file Form(s) 1099.

Check this box if the corporation did not make any payments in 2023 that would require it to file Form(s) 1099.

Check this box if the corporation filed or will file the required Form(s) 1099. Fill only if the 'Did the corporation make any payments in 2023 that would require it to file Form(s) 1099?' is 'Yes'.

Check this box if the corporation did not file and will not file the required Form(s) 1099. Fill only if the 'Did the corporation make any payments in 2023 that would require it to file Form(s) 1099?' is 'Yes'.

Check this box if the corporation is attaching Form 8996 to certify as a Qualified Opportunity Fund.

Check this box if the corporation is not attaching Form 8996 to certify as a Qualified Opportunity Fund.

Enter the dollar amount from Form 8996, line 15. Fill only if the 'Is the corporation attaching Form 8996 to certify as a Qualified Opportunity Fund?' is 'Yes'.

Check this box if at any time during the tax year the corporation received (as a reward, award, or payment for property or services) or sold, exchanged, or otherwise disposed of a digital asset or a financial interest in a digital asset.

Check this box if at no time during the tax year did the corporation receive, sell, exchange, or otherwise dispose of a digital asset or a financial interest in a digital asset.

Enter the total amount of other gross rental income or loss to be reported on Schedule K-1, line 3a.

Enter the adjustment to shareholders’ equity for the end of the tax year in column (d) as reported on the attached statement.

Enter the corporation’s cost of treasury stock at the beginning of the tax year for Schedule L, line 26, column (a).

Enter the corporation’s cost of treasury stock at the beginning of the tax year for Schedule L, line 26, column (b).

Enter the corporation’s cost of treasury stock at the end of the tax year for Schedule L, line 26, column (c).

Enter the corporation’s cost of treasury stock at the end of the tax year for Schedule L, line 26, column (d).

Enter the total liabilities and shareholders’ equity at the beginning of the tax year for Schedule L, line 27, in column (a).

Enter the total liabilities and shareholders’ equity at the beginning of the tax year for Schedule L, line 27, in column (b).

Enter the total liabilities and shareholders’ equity at the end of the tax year for Schedule L, line 27, in column (c).

Enter the total liabilities and shareholders’ equity at the end of the tax year for Schedule L, line 27, in column (d).

Enter the total amount of income included on Schedule K (lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10) that was not recorded on the books this year.

Enter the amount of the income item you described that was included on Schedule K but not recorded on the books this year.

Enter the depreciation expense recorded on the books this year that was not included on Schedule K, lines 1 through 12 and 16f.

Provide details explaining the depreciation expense recorded on the books that was not included on Schedule K, lines 1 through 12 and 16f.

Provide details explaining the travel and entertainment expenses recorded on the books that were not included on Schedule K, lines 1 through 12 and 16f.

Enter the sum of all expenses recorded on the books this year that were not included on Schedule K, lines 1 through 12 and 16f.

Enter the total of Schedule M-1 lines 1, 2, and 3.

Provide a description of any other income item recorded on books this year but not included on Schedule K, lines 1 through 10.

Enter the amount of the other income item recorded on books this year but not included on Schedule K, lines 1 through 10.

Provide a description of any other deduction included on Schedule K, lines 1 through 12 and 16f but not charged against book income this year.

Enter the amount of the other deduction included on Schedule K, lines 1 through 12 and 16f but not charged against book income this year.

Enter the income (loss) per Schedule K, line 18, by subtracting Schedule M-1 line 7 from line 4.

Enter the balance at the beginning of the tax year for the accumulated adjustments account.

Enter the balance at the beginning of the tax year for shareholders’ undistributed taxable income previously taxed.

Enter the balance at the beginning of the tax year for accumulated earnings and profits.

Enter the balance at the beginning of the tax year for the other adjustments account.

Enter the amount of ordinary income from page 1, line 22 allocated to the accumulated adjustments account.

Enter the amount of ordinary income from page 1, line 22 allocated to the shareholders’ undistributed taxable income previously taxed account.

Enter the amount of ordinary income from page 1, line 22 allocated to accumulated earnings and profits.

Enter the amount of ordinary income from page 1, line 22 allocated to the other adjustments account.

Enter the amount of other additions to the accumulated adjustments account for the tax year.

Enter the amount of other additions to the shareholders’ undistributed taxable income previously taxed for the tax year.

Enter the amount of other additions to the accumulated earnings and profits for the tax year.

Enter the amount of other additions to the other adjustments account for the tax year.

Enter the amount of loss from page 1, line 22, that applies to the accumulated adjustments account.

Enter the amount of loss from page 1, line 22, that applies to shareholders’ undistributed taxable income previously taxed.

Enter the amount of loss from page 1, line 22, that applies to accumulated earnings and profits.

Enter the amount of loss from page 1, line 22, that applies to the other adjustments account.

Enter the total other reductions to the accumulated adjustments account (column a) on Schedule M-2, row 5 for the tax year.

Enter the total other reductions to shareholders’ undistributed taxable income previously taxed (column b) on Schedule M-2, row 5 for the tax year.

Enter the total other reductions to accumulated earnings and profits (column c) on Schedule M-2, row 5 for the tax year.

Enter the total other reductions to the other adjustments account (column d) on Schedule M-2, row 5 for the tax year.

Enter the total of lines 1 through 5 for the accumulated adjustments account.

Enter the total of lines 1 through 5 for shareholders’ undistributed taxable income previously taxed.

Enter the total of lines 1 through 5 for accumulated earnings and profits.

Enter the total of lines 1 through 5 for the other adjustments account.

Enter the total dollar amount of distributions made during the tax year from the corporation’s accumulated adjustments account for Schedule M-2, line 7.

Enter the total dollar amount of distributions made during the tax year from shareholders’ undistributed taxable income previously taxed for Schedule M-2, line 7.

Enter the total dollar amount of distributions made during the tax year from accumulated earnings and profits for Schedule M-2, line 7.

Enter the amount from Schedule K line 3a, Other gross rental income (loss), minus the amount from Schedule K line 3b, Expenses from other rental activities (attach statement). Enter the result in whole dollars. Use a minus sign for a net loss.

Enter the total amount of ordinary dividends passed through to shareholders as reported on Schedule K, line 5a. If the corporation had no ordinary dividends, enter 0. Format as a dollar amount with cents (e.g., 12345.67), omitting the dollar sign and commas.

Enter the total qualified dividends amount to be reported on Schedule K-1 (Form 1120-S), line 5b.

Enter the corporation’s total net short-term capital gain or loss from Schedule D (Form 1120-S). Report gains as positive numbers and losses in parentheses. Do not include dollar signs or commas.

Enter the total net section 1231 gain or loss for the tax year from Form 4797 (attach Form 4797). Use a positive number for net gain or a negative number with a leading minus sign for net loss. Report in whole U.S. dollars—omit cents, commas, and the dollar sign. If there is no net section 1231 gain or loss, enter 0.

Enter the description or category of other income or loss to be reported on Schedule K, line 10.

Enter the allowance for bad debts deducted from trade notes and accounts receivable at the end of the tax year on Schedule L, line 2b.

Enter the allowance for bad debts reported on the liabilities and shareholders’ equity side at the end of the tax year on Schedule L, line 2b.

Provide the total value of inventories on the corporation’s books at the beginning of the tax year, as reported on Schedule L, line 3, column (a).

Provide any supplemental inventory amount or adjustment at the beginning of the tax year for Schedule L, line 3, column (b).

Enter the corporation’s total interest income for the tax year as reported on Schedule K, line 4 “Interest income.” Provide the amount in dollars and cents without a dollar sign or commas (for example, 1234.56). If there is no interest income, enter 0.

Enter the total royalties allocated to the shareholder for the tax year as reported on Schedule K, line 6 of Form 1120-S.

Enter the total net long-term capital gain or loss from Schedule D (Form 1120-S) to report on K-1 Line 8a.

Enter the net collectibles (28%) gain or loss amount to be reported on Schedule K-1, line 8b.

Enter the total unrecaptured Section 1250 gain for the tax year as a whole-dollar amount. Do not include the dollar sign, commas, or cents. If there is no unrecaptured Section 1250 gain for the year, enter 0.

Enter the total amount of other income or loss to be reported on Schedule K, line 10.

Enter the corporation’s adjusted gain or loss amount for Alternative Minimum Tax purposes as reported on Schedule K-1, Line 15b.

Enter the total tax-exempt interest income for the corporation to be allocated to shareholders on Schedule K, line 16a. Round to the nearest whole dollar—do not include cents or commas. If the corporation had no tax-exempt interest income, enter 0.

Enter the corporation’s total other tax-exempt income for the year to be reported on Schedule K, line 16b.

Provide the total value of inventories on the corporation’s books at the end of the tax year, as reported on Schedule L, line 3, column (c).

Provide any supplemental inventory amount or adjustment at the end of the tax year for Schedule L, line 3, column (d).

Enter the total value of U.S. government obligations held by the corporation at the beginning of the tax year.

Enter the total value of U.S. government obligations held by the corporation at the end of the tax year.

Enter the corporation’s net income or loss as reported in its books for the year.

Provide a description of an income item included on Schedule K (lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10) that was not recorded on the books this year.

Enter the amount of tax-exempt interest recorded on books this year but not included on Schedule K, lines 1 through 10.

Enter the total dollar amount of distributions made during the tax year from the other adjustments account for Schedule M-2, line 7.

Provide the S corporation’s cost of goods sold for the tax year as calculated and reported on the attached Form 1125-A.

Provide the gross profit amount by subtracting cost of goods sold (line 2) from the net sales balance (line 1c).

Provide any other income or loss amounts for the tax year as defined in the instructions and attach the required statement.

Provide the total income or loss by adding the amounts on lines 3 through 5 for the tax year.

Enter the total compensation paid to corporate officers during the tax year.

Provide the S corporation’s total gross receipts or sales for the tax year before subtracting any returns and allowances.

Provide the total amount of returns and allowances to be subtracted from gross receipts or sales.

Provide the net amount after subtracting returns and allowances from gross receipts or sales.

Provide the net gain or loss amount shown on Form 4797, line 17, for the tax year.

Enter the shareholder’s total pro rata share of ordinary business income or loss reported on Schedule K, line 1 of Form 1120-S.

Enter the net rental real estate income or loss amount to report on Schedule K, line 2 (attach Form 8825).

Enter the credit for federal tax paid on fuels as reported on Form 4136.

Enter the sum of lines 24a through 24d for total payments and credits.

Check this box if Form 2220 is attached to report an estimated tax penalty.

Enter the amount owed if line 24z is smaller than the total of lines 23c and 25.

Enter the amount overpaid if line 24z is larger than the total of lines 23c and 25.

Enter the portion of the overpayment shown on line 27 that you elect to apply to your 2024 estimated tax. Enter whole dollar amounts only; omit the dollar sign and commas. If you do not want to credit any amount to 2024 estimated tax, leave this field blank or enter 0.

Check this box to allow the IRS to discuss this return with the preparer shown below.

Check this box to indicate you do not want the IRS to discuss this return with the preparer shown below.

Check this box if the preparer is self-employed.

Check this box if the corporation uses the cash method of accounting.

Check this box if the corporation uses the accrual method of accounting.

Check this box if the corporation uses an accounting method other than cash or accrual; specify the method.

Enter the specific accounting method name when the “Other (specify)” option is selected. Fill only if the 'Other (specify)' is 'Yes'.

Enter a brief description of the corporation’s principal business activity for the tax year.

Enter a brief description of the corporation’s principal product or service offered during the tax year.

Check this box if at any time during the tax year a shareholder of the corporation was a disregarded entity, a trust, an estate, or a nominee or similar person.

Check this box if at no time during the tax year a shareholder of the corporation was a disregarded entity, a trust, an estate, or a nominee or similar person.

Check this box if at the end of the tax year the corporation owned directly 20% or more, or owned directly or indirectly 50% or more, of the total stock issued and outstanding of any foreign or domestic corporation.

Check this box if at the end of the tax year the corporation did not own directly 20% or more, nor owned directly or indirectly 50% or more, of the total stock issued and outstanding of any foreign or domestic corporation.

Enter the full legal name of the first corporation in which the S corporation directly or indirectly owns at least 20% of the total stock issued and outstanding.

Provide the Employer Identification Number (EIN) of the first owned corporation, if any.

Enter the country where the first owned corporation is legally incorporated.

Specify the percentage of the total stock owned, directly or indirectly, in the first corporation at the end of the tax year.

Enter the date a Qualified Subchapter S Subsidiary election was made for the first corporation, if applicable. Fill only if the 'Row 1 – Percentage of Stock Owned' is '100%'.

Enter the full legal name of the foreign or domestic corporation owned by the S corporation.

Enter the Employer Identification Number (EIN) assigned to the corporation, if available.

Enter the country in which the corporation was incorporated.

Enter the percentage of the corporation’s total stock owned by the S corporation at the end of the tax year.

Enter the date on which a Qualified Subchapter S Subsidiary election was made. Fill only if the 'Row 2 Percentage of Stock Owned' is '100%'.

Enter the full legal name of the foreign or domestic corporation listed in row 3 of the details table.

Provide the nine-digit Employer Identification Number (EIN) for the corporation listed in row 3, if one has been assigned.

Enter the country where the corporation in row 3 is incorporated.

Provide the percentage of the owned corporation’s total stock held by the S corporation at the end of the tax year for row 3.

Enter the date on which a Qualified Subchapter S Subsidiary election was made for the corporation listed in row 3. Fill only if the 'Row 3 Percentage of Stock Owned' is '100%'.

Provide the legal name of the foreign or domestic corporation in which the S corporation owned 20% or more directly, or 50% or more directly or indirectly, of the total stock at the end of the tax year.

Enter the employer identification number (EIN) of the listed corporation, if available.

Specify the country where the listed corporation is legally incorporated.

Enter the percentage of the listed corporation’s total stock owned by the S corporation at the end of the tax year.

Enter the date on which a Qualified Subchapter S Subsidiary election was made. Fill only if the 'Row 4 Percentage of Stock Owned' is '100%'.

Check this box if at the end of the tax year the corporation owned directly 20% or more, or owned directly or indirectly 50% or more, in the profit, loss, or capital in any foreign or domestic partnership or in the beneficial interest of a trust.

Check this box if at the end of the tax year the corporation did not own directly 20% or more, nor owned directly or indirectly 50% or more, in the profit, loss, or capital in any foreign or domestic partnership or in the beneficial interest of a trust.

Enter the name of the foreign or domestic partnership (or trust) in which the S corporation holds the specified ownership interest. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Enter the employer identification number (EIN), if any, for the entity listed in Row 1. Fill only if the 'Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust?' is 'Yes'.

Check this box if you are reporting items of international tax relevance and are attaching Schedule K-2 (Form 1120-S).

Enter the total amount of distributions made to shareholders during the tax year as reported on Schedule K, line 16d; attach a statement if required.

Provide the total dollar amount of loans repaid by the corporation to its shareholders during the tax year (Schedule K, line 16e).

Enter the ending balance for the Accumulated Earnings and Profits account at the end of the tax year.

Enter the date on which the officer signed the tax return.

Enter the paid preparer’s printed or typed full name.

Enter the IRS-assigned Preparer Tax Identification Number for the paid preparer.

Enter the name of the paid preparer’s firm.

Enter the paid preparer’s firm street address including number, street, city, state, and ZIP code.

Enter the nine-digit EIN assigned by the IRS to the paid preparer’s firm.

Enter the paid preparer’s firm telephone number, including area code.

Enter the total mortgage and real estate loans reported on the corporation’s balance sheet at the beginning of the tax year (Schedule L, line 8, column (b)).

Enter the total mortgage and real estate loans reported on the corporation’s balance sheet at the end of the tax year (Schedule L, line 8, column (c)).

Enter the total mortgage and real estate loans reported on the corporation’s balance sheet at the end of the tax year (Schedule L, line 8, column (d)).

Enter the total amount of other investments at the beginning of the tax year as reported in column (a) of line 9.

Enter the total amount of other investments at the beginning of the tax year as reported in column (b) of line 9.

Enter the total amount of other investments at the end of the tax year as reported in column (c) of line 9.

Enter the total amount of other investments at the end of the tax year as reported in column (d) of line 9.

Enter the total cost or other basis of buildings and other depreciable assets at the beginning of the tax year (line 10a, column a).

Enter the total cost or other basis of buildings and other depreciable assets at the beginning of the tax year (line 10a, column b).

Enter the total cost or other basis of buildings and other depreciable assets at the end of the tax year (line 10a, column c).

Enter the total cost or other basis of buildings and other depreciable assets at the end of the tax year (line 10a, column d).

Enter the amount of accumulated depreciation on buildings and other depreciable assets to be subtracted at the beginning of the tax year in column (a).

Enter the amount of accumulated depreciation on buildings and other depreciable assets to be subtracted at the beginning of the tax year in column (b).

Enter the amount of accumulated depreciation on buildings and other depreciable assets to be subtracted at the end of the tax year in column (c).

Enter the amount of accumulated depreciation on buildings and other depreciable assets to be subtracted at the end of the tax year in column (d).

Provide the book value of depletable assets at the beginning of the tax year in column (a).

Provide the book value of depletable assets at the beginning of the tax year in column (b).

Provide the book value of depletable assets at the end of the tax year in column (c).

Provide the book value of depletable assets at the end of the tax year in column (d).

Enter the amount of accumulated depletion recorded on the books at the beginning of the tax year (column a) for Schedule L, line 11b.

Enter the amount of accumulated depletion recorded on the books at the beginning of the tax year (column b) for Schedule L, line 11b.

Enter the amount of accumulated depletion recorded on the books at the end of the tax year (column c) for Schedule L, line 11b.

Enter the amount of accumulated depletion recorded on the books at the end of the tax year (column d) for Schedule L, line 11b.

Enter the book value of land, net of any amortization, at the beginning of the tax year as reported in column (a) of Schedule L.

Enter the book value of land, net of any amortization, at the beginning of the tax year as reported in column (b) of Schedule L.

Enter the book value of land, net of any amortization, at the end of the tax year as reported in column (c) of Schedule L.

Enter the book value of land, net of any amortization, at the end of the tax year as reported in column (d) of Schedule L.

Enter the book value of amortizable intangible assets as a positive amount at the beginning of the tax year.

Enter the book value of amortizable intangible assets at the beginning of the tax year as a negative amount enclosed in parentheses.

Enter the book value of amortizable intangible assets as a positive amount at the end of the tax year.

Enter the total number of shares of restricted stock the corporation had outstanding at the end of the tax year. Fill only if the 'At the end of the tax year, did the corporation have any outstanding shares of restricted stock?' is 'Yes'.

Enter the total number of shares of non-restricted stock the corporation had outstanding at the end of the tax year. Fill only if the 'At the end of the tax year, did the corporation have any outstanding shares of restricted stock?' is 'Yes'.

Enter the total number of shares of stock outstanding at the end of the tax year. Fill only if the 'At the end of the tax year, did the corporation have any outstanding stock options, warrants, or similar instruments?' is Yes.

Enter the total number of shares of stock that would be outstanding if all outstanding stock options, warrants, or similar instruments were exercised. Fill only if the 'At the end of the tax year, did the corporation have any outstanding stock options, warrants, or similar instruments?' is Yes.

Enter the total of current year’s estimated tax payments and any overpayment from the preceding year credited to this year.

Enter the federal tax amount deposited with Form 7004.

Enter the elective payment election amount from Form 3800.

If line 24z (Add lines 24a through 24d) is less than the total of lines 23c (Add lines 23a and 23b) and 25, enter the difference—the amount of tax owed—in whole dollars. Do not include a dollar sign or commas. Leave blank if there is no amount owed.

Enter the corporation’s mailing address by providing the building number, street name, and room or suite number. This field is required. If you must use a P.O. box, follow the guidance in the Form 1120-S instructions.

Provide the total amount of investment income to be reported on Schedule K, line 17a.

Provide the total amount of dividend distributions paid from accumulated earnings and profits to be reported on Schedule K, line 17c.

Enter the S corporation’s cash balance at the beginning of the tax year for column (b).

Enter the S corporation’s cash balance at the end of the tax year for column (c).

Enter the S corporation’s cash balance at the end of the tax year for column (d).

Enter the trade notes and accounts receivable amount for Schedule L, line 2a, column (a), representing the balance at the beginning of the tax year.

Enter the trade notes and accounts receivable amount for Schedule L, line 2a, column (b), representing the balance at the beginning of the tax year.

Enter the trade notes and accounts receivable amount for Schedule L, line 2a, column (c), representing the balance at the end of the tax year.

Enter the trade notes and accounts receivable amount for Schedule L, line 2a, column (d), representing the balance at the end of the tax year.

Enter the allowance for bad debts deducted from trade notes and accounts receivable at the beginning of the tax year on Schedule L, line 2b.

Enter the allowance for bad debts reported on the liabilities and shareholders’ equity side at the beginning of the tax year on Schedule L, line 2b.

Enter the total value of U.S. government obligations held by the corporation at the end of the tax year.

Provide the amount of tax-exempt securities under liabilities and shareholders’ equity at the beginning of the tax year for Schedule L, line 5(b).

Provide the book value of the corporation’s tax-exempt securities at the end of the tax year for Schedule L, line 5(c).

Provide the amount of tax-exempt securities under liabilities and shareholders’ equity at the end of the tax year for Schedule L, line 5(d).

Enter the total value reported as other current assets on line 6 at the beginning of the tax year (column a).

Enter the total value reported as other current assets on line 6 at the beginning of the tax year (column b).

Enter the total value reported as other current assets on line 6 at the end of the tax year (column c).

Enter the excess net passive income or LIFO recapture tax amount for the tax year.

Enter the tax amount from Schedule D of Form 1120-S.