Tax
Form 1120-S (S-corp Return)
Quick definition
Annual return for S-corporations reporting income that passes through to owners on Schedule K-1.
Form 1120-S reports the S-corp's income, deductions, gains, losses, and credits, but the S-corp itself usually doesn't pay tax. Instead, each shareholder receives a K-1 with their pro-rata share of income/losses and reports it on their personal 1040. Due March 15 (or 15th day of 3rd month after fiscal year end). 6-month extension available via Form 7004.
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Frequently asked questions
- What is Form 1120-S (S-corp Return)?
- Form 1120-S reports the S-corp's income, deductions, gains, losses, and credits, but the S-corp itself usually doesn't pay tax. Instead, each shareholder receives a K-1 with their pro-rata share of income/losses and reports it on their personal 1040. Due March 15 (or 15th day of 3rd month after fiscal year end). 6-month extension available via Form 7004.
- Why is Form 1120-S (S-corp Return) important for startups?
- Form 1120-S (S-corp Return) is a tax concept that matters for startup founders because it shows up in fundraising readiness, financial decision-making, and operational discipline at the stage where mistakes are expensive to undo. Founders who understand it are better prepared for diligence, board meetings, and investor conversations.
- What category does Form 1120-S (S-corp Return) belong to?
- Form 1120-S (S-corp Return) is a Tax term in the StartupCFO finance glossary, alongside other tax concepts that founders, CFOs, and accountants use in startup operations and reporting.
- Where can I learn more about Form 1120-S (S-corp Return)?
- Beyond this definition, see the related tax terms below, or explore StartupCFO's insights and tools that put Form 1120-S (S-corp Return) in context. For specific situations, talk to a fractional CFO who can walk through your numbers.
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