Shareholder K-1 to Form 1040
Individuals who are shareholders in an S corporation receives a Schedule K-1 reporting their share of the corporation’s income, deductions, credits, etc. The information provided on Schedule K-1 is important to the correct completion of the shareholders individual income tax return. This webinar provides you with the knowledge to report items from Schedule K-1 onto the shareholder’s individual income tax return.
Upon completion of this course, you will be able to:
- Identify the elections made at the shareholder level (versus the ones made at the S corporation level).
- Describe the various items reported on Schedule K-1.
- Report Schedule K-1 information on the shareholder’s return.
Includes webinar recording, PowerPoint presentation and Q&A webinar transcript. CPE is issued after exam is successfully completed.
Larry Zimbler, MST, EA