Beruflich Dokumente
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Shareholder's Instructions
for Schedule K-1
(Form 1120S)
Shareholder's Share of Income, Credits, Deductions,
etc. (For Shareholder's Use Only)
Section references are to the Internal Revenue Code unless otherwise noted.
General Instructions basis of your stock in the corporation. The basis of each share of stock is
Schedule K-1 provides information to help increased or decreased (but not below
Purpose of Schedule K-1 you make the computation at the end of zero) based on its pro rata share of the
each corporate tax year. The basis of your above adjustments. If the total decreases
The corporation uses Schedule K-1 (Form stock (generally, its cost) is adjusted as in basis attributable to a share exceed
1120S) to report your pro rata share of the follows and, except as noted, in the order that share's basis, the excess reduces
corporation's income (reduced by any tax listed. In addition, basis may be adjusted (but not below zero) the remaining bases
the corporation paid on the income), under other provisions of the Internal of all other shares of stock in proportion
credits, deductions, etc. Please keep it Revenue Code. to the remaining basis of each of those
for your records. Do not file it with 1. Basis is increased by (a) all income shares.
your tax return. The corporation has filed (including tax-exempt income) reported
a copy with the IRS. on Schedule K-1 and (b) the excess of the Inconsistent Treatment of Items
Although the corporation may have to deduction for depletion (other than oil and Generally, you must report subchapter S
pay a capital gains tax (or built-in gains gas depletion) over the basis of the items shown on your Schedule K-1 (and
tax) and an excess net passive income property subject to depletion. any attached schedules) the same way
tax, you, the shareholder, are liable for Note: You must report the taxable that the corporation treated the items on
income tax on your share of the income on your return (if you are required its return.
corporation's income, whether or not to file a return) for it to increase your If the treatment on your original or
distributed, and you must include your basis. amended return is inconsistent with the
share on your tax return if a return is corporation's treatment, or if the
2. Basis is decreased by property
required. Your distributive share of S corporation has not filed a return, you
distributions (including cash) made by the
corporation income is not must file Form 8082, Notice of
corporation (excluding dividend
self-employment income and it is not Inconsistent Treatment or Administrative
distributions reported on Form 1099-DIV
subject to self-employment tax. Adjustment Request (AAR), with your
and distributions in excess of basis)
You should use these instructions to reported on Schedule K-1, line 20. original or amended return to identify and
help you report the items shown on explain any inconsistency (or to note that
3. Basis is decreased by (a)
Schedule K-1 on your tax return. a corporate return has not been filed).
nondeductible expenses and (b) the
Where “(attach schedule)” appears next depletion deduction for any oil and gas If you are required to file Form 8082,
to a line on Schedule K-1, it means the property held by the corporation, but only but fail to do so, you may be subject to the
information for these lines (if applicable) to the extent your pro rata share of the accuracy-related penalty. This penalty is
will be shown in the “Supplemental property's adjusted basis exceeds that in addition to any tax that results from
Information” space below line 23 of deduction. making your amount or treatment of the
Schedule K-1. If additional space was item consistent with that shown on the
4. Basis is decreased by all deductible
needed, the corporation will have corporation's return. Any deficiency that
losses and deductions reported on
attached a statement to Schedule K-1 to results from making the amounts
Schedule K-1.
show the information for the line item. consistent may be assessed immediately.
You may elect to decrease your basis
The notation “(see instructions for
under 4 above prior to decreasing your Errors
Schedule K-1)” in items A and C at the top
basis under 3 above. If you make this
of Schedule K-1 is directed to the If you believe the corporation has made
election, any amount described under 3
corporation. You, as a shareholder, an error on your Schedule K-1, notify the
that exceeds the basis of your stock and
should disregard these notations. corporation and ask for a corrected
debt owed to you by the corporation is
Schedule K-1 does not show the treated as an amount described under 3 Schedule K-1. Do not change any items
amount of actual dividend distributions for the following tax year. To make the on your copy. Be sure that the corporation
the corporation made to you. The election, attach a statement to your timely sends a copy of the corrected Schedule
corporation must report to you such filed original or amended return that states K-1 to the IRS. If you are unable to reach
amounts totaling $10 or more for the you agree to the carryover rule of agreement with the corporation regarding
calendar year on Form 1099-DIV, Regulations section 1.1367-1(f) and the the inconsistency, you must file Form
Dividends and Distributions. You report name of the S corporation to which the 8082.
actual dividend distributions on Form rule applies. Once made, the election
1040, line 9. International Boycotts
applies to the year for which it is made
and all future tax years for that S Every corporation that had operations in,
Basis of Your Stock or related to, a boycotting country,
corporation, unless the IRS agrees to
You are responsible for maintaining revoke your election. company, or national of a country, must
records to show the computation of the