Basic Data
General › S-corporation entity information.
S-Corporation
Income
Income/Deductions › Form 1120-S, page 1, lines 1–6.
Income 0
LnDescriptionAmount
1aGross receipts or sales
1bReturns and allowances
1cBalance (1a − 1b)
0
2Cost of goods sold (Form 1125-A)
3Gross profit (1c − 2)
0
4Net gain (loss) (Form 4797)
5Other income (loss) (attach statement)
6Total income (loss)
0
Deductions
Income/Deductions › Form 1120-S, page 1, lines 7–21.
Deductions 0
LnDescriptionAmount
7Compensation of officers (Form 1125-E)
8Salaries and wages (less employment credits)
9Repairs and maintenance
10Bad debts
11Rents
12Taxes and licenses
13Interest (see instructions)
14Depreciation (Form 4562)
15Depletion
16Advertising
17Pension, profit-sharing, etc. plans
18Employee benefit programs
19Other deductions (attach statement)
20Total deductions
0
21Ordinary business income (loss) (6 − 20)
0
Tax and Payments page 1, lines 22–26
LnDescriptionAmount
22Tax (built-in gains / excess net passive income / LIFO)
23Total payments and credits
25Amount owed
0
26Overpayment
0
Most S-corporations owe no entity-level income tax — line 22 applies only to built-in gains, excess net passive income, or LIFO recapture. Profits pass through to shareholders on Schedule K-1.
Schedule K — Shareholders' Pro Rata Share Items
Schedule K › Separately and non-separately stated items.
Pro Rata Share Items
LnDescriptionTotal
Income (Loss)
1Ordinary business income (loss) (page 1, line 21)
0
4Interest income
5aOrdinary dividends
5bQualified dividends (subset of 5a)
8aNet long-term capital gain (loss)
Deductions
11Section 179 deduction
12aCharitable contributions
Reconciliation
18Income (loss) reconciliation (income items − deduction items)
0
Schedule L — Balance Sheets per Books
Balance Sheet › Beginning and end of tax year.
Assets
LnDescriptionBeginningEnd of year
1Cash
2aTrade notes and accounts receivable
2bLess allowance for bad debts
3Inventories
4U.S. government obligations
5Tax-exempt securities
6Other current assets
8Other investments
9aBuildings and other depreciable assets
9bLess accumulated depreciation
11Land (net of amortization)
13Other assets
14Total assets
0
0
Liabilities and Shareholders' Equity
LnDescriptionBeginningEnd of year
16Accounts payable
17Mortgages/notes payable in less than 1 year
18Other current liabilities
19Loans from shareholders
20Mortgages/notes payable in 1 year or more
21Other liabilities
22Capital stock
23Additional paid-in capital
24Retained earnings (≈ AAA)
25Adjustments to shareholders' equity
26Less cost of treasury stock
27Total liabilities and equity
0
0
Schedule M-1 — Reconciliation of Income (Loss) per Books
Schedules M-1 / M-2 › Book income to income (loss) per return (Schedule K, line 18).
Reconciliation
LnDescriptionAmount
1Net income (loss) per books
2Income on Sch K (1–10) not on books
3 — Expenses on books not on Schedule K
3aDepreciation
3bTravel and entertainment
4Add lines 1 through 3
0
5 / 6 — Items not on the return
5Tax-exempt interest (income on books not on Sch K)
6Deductions on Sch K not on books (depreciation)
7Add lines 5 and 6
0
8Income (loss) (Schedule K, line 18) = 4 − 7
0
Schedule M-2 — Accumulated Adjustments Account (AAA)
Schedules M-1 / M-2 › AAA roll-forward (ties to retained earnings on Schedule L, line 24).
Accumulated Adjustments Account
LnDescriptionAmount (AAA)
1Balance at beginning of tax year
2Ordinary income from page 1, line 21
0
3Other additions (separately stated income items)
4Loss from page 1, line 21
0
5Other reductions (§179, contributions, nondeductible)
6Combine lines 1 through 5
0
7Distributions (other than dividend distributions)
8Balance at end of tax year (6 − 7)
0
Schedule K-1 — Shareholder Allocations
Shareholders › Pro rata allocation by stock ownership (no special allocations).
Shareholders
| # | Shareholder | Stock % | Ord. income share | Distributions (16D) |
|---|---|---|---|---|
| 1 | 0 | 0 | ||
| 2 | 0 | 0 | ||
| TOTALS | 0 | 0 | 0 | |
Shareholder reconciliation
📄 Government Form — Form 1120-S (2025), populated from worksheet input.
Form
1120-S
Department of the Treasury
Internal Revenue Service
Internal Revenue Service
U.S. Income Tax Return for an S Corporation
For calendar year 2025
OMB No. 1545-0123
Name
B Employer identification number
Number, street, and room or suite no.
E Date incorporated
City or town, state, ZIP
C Business activity
| Income | ||
| 1a | Gross receipts or sales | |
| 1b | Returns and allowances | |
| 1c | Balance | |
| 2 | Cost of goods sold (Form 1125-A) | |
| 3 | Gross profit | |
| 4 | Net gain (loss) (Form 4797) | |
| 5 | Other income (loss) | |
| 6 | Total income (loss) | |
| Deductions | ||
| 7 | Compensation of officers | |
| 8 | Salaries and wages | |
| 9 | Repairs and maintenance | |
| 11 | Rents | |
| 12 | Taxes and licenses | |
| 13 | Interest | |
| 14 | Depreciation | |
| 16 | Advertising | |
| 17 | Pension, profit-sharing plans | |
| 18 | Employee benefit programs | |
| 19 | Other deductions | |
| 20 | Total deductions | |
| 21 | Ordinary business income (loss) | |
| 22 | Tax (built-in gains / passive income / LIFO) | |
Form 1120-S (2025) · Schedule K — Shareholders' Pro Rata Share Items
| Schedule K — Pro Rata Share Items | ||
| 1 | Ordinary business income (loss) | |
| 4 | Interest income | |
| 5a | Ordinary dividends | |
| 5b | Qualified dividends | |
| 8a | Net long-term capital gain (loss) | |
| 11 | Section 179 deduction | |
| 12a | Charitable contributions | |
| 18 | Income (loss) reconciliation | |
Form 1120-S (2025) · Schedules L, M-1, and M-2
| Schedule L — Balance Sheets per Books | |||
| Assets | Beginning | End of year | |
| 1 | Cash | ||
| 2a | Trade notes and accounts receivable | ||
| 3 | Inventories | ||
| 6 | Other current assets | ||
| 9a | Buildings and other depreciable assets | ||
| 9b | Less accumulated depreciation | ||
| 11 | Land | ||
| 13 | Other assets | ||
| 14 | Total assets | ||
| Liabilities and Shareholders' Equity | |||
| 16 | Accounts payable | ||
| 17 | Mortgages/notes payable < 1 year | ||
| 19 | Loans from shareholders | ||
| 20 | Mortgages/notes payable ≥ 1 year | ||
| 22 | Capital stock | ||
| 23 | Additional paid-in capital | ||
| 24 | Retained earnings | ||
| 27 | Total liabilities and equity | ||
| Schedule M-1 — Reconciliation of Income (Loss) per Books | ||
| 1 | Net income (loss) per books | |
| 3b | Travel and entertainment | |
| 4 | Add lines 1 through 3 | |
| 5 | Tax-exempt interest | |
| 6 | Deductions on Sch K not on books | |
| 7 | Add lines 5 and 6 | |
| 8 | Income (loss) (Schedule K, line 18) | |
| Schedule M-2 — Accumulated Adjustments Account | ||
| 1 | Balance at beginning of year | |
| 2 | Ordinary income (page 1, line 21) | |
| 3 | Other additions | |
| 5 | Other reductions | |
| 6 | Combine lines 1 through 5 | |
| 7 | Distributions | |
| 8 | Balance at end of year | |
For Paperwork Reduction Act Notice, see separate instructions.
Form 1120-S (2025)
Schedule K-1 (Form 1120-S) — one per shareholder