Tax forms

Form 1120-S

Form 1120-S is the U.S. Income Tax Return for an S Corporation. The corporation reports its income, deductions, gains and losses, and issues each shareholder a Schedule K-1 with the shareholder's share.

Reviewed November 3, 2026

Why it matters

An S corporation generally does not pay federal income tax at the entity level. The 1120-S allocates the income to the shareholders, who report it on their own returns and need the K-1 to file.

Example

An LLC elects S corporation status and pays its owner a salary through payroll. The corporation files Form 1120-S, reports the owner's salary and issues a K-1 for the remaining income.

Related terms

Questions about Form 1120-S

When is Form 1120-S due?

A calendar-year Form 1120-S is generally due March 15, 2027 for tax year 2026. An extension moves the filing date, not the shareholders' payment dates.

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Sources

Checked November 3, 2026. Public pages and tax rules change; confirm them before relying on them.

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