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What is Schedule K-1 for an S Corporation?

Schedule K-1 is the document each shareholder receives after Form 1120-S is filed. It shows their individual share of the S Corp's income, deductions, and credits for the year. Shareholders need their K-1 to file their personal tax return accurately. Inkle prepares a K-1 for every shareholder as part of the Form 1120-S filing.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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