Yo yo yo CPA strength back again strongest CPA guy anyway we're gonna do we're gonna talk about Kate ones right now we're just gonna talk about what it is where it comes from comes from a pass-through entity big pass-through entities are s corpse and partnerships we're gonna focus we're going to focus on k1 from an S corp today an 11 20s okay now it's called 1120 s and S Corp I should put escort escort is a pass-through entity meaning the entity itself doesn't doesn't pay taxes on the income or loss it passes through to the shareholders and it passes through via a k1 so I'm going to show you one second but you're gonna have you're gonna have your 1120s tax return and then it's gonna then the shareholders are going to get K ones from from the income or loss from the pass-through entity from the 11 20s and those K ones are going to go through to the to the shareholders personal tax returns so let's go we have 11 20s it files its own tax rate it's gonna file its own tax return so we have the 1120s the escort makes a profit of $10,000 now it has two shareholders Tom at 50 percent in Marion 50 percent this S Corp is going to file a tax return it's going to send it to the IRS the IRS is going to get it and it's gonna say oh okay there's there's two K ones here Tom Tom and Mary both fifty percent so the IRS is gonna know already with the filing of the 1120s you know they're gonna be waiting for those K ones to come in by the Social Security number on the K ones so anyways the escorts going...
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instructions 1120-S Form: What You Should Know
Instructions for Form 1120-S — IRS Shareholder's Reference Guide for U.S. Shareholders Information about Form 1120-S, U.S. Income Tax Return for an S Corporation (through April 18, 2015), including recent updates, related forms, and instructions on how to file. 2021 Instructions for Form 1120-S — IRS 2021-1 Instructions for Form 1120-S — IRS 2022 instructions on how to file form 1120-S, tax return for an S corporation and related forms. 2021. Instructions for Form 1120-S — IRS 2021.1-1 Instructions for Form 1120-S — IRS 2021.1 Instructions for Form 1120-S — IRS 2021-1-1 Instructions for Form 1120-S — IRS The IRS has provided the following information on Form 1120-S, U.S. Income Tax Return for an S — Corporation. This information does not apply to all S corporations. 2021 Instructions for Form 1120-S — IRS Shareholder's reference guide for Form 1120-S (the “Gains and Losses Deduction,” or “GDS Deduction”) Use S Corporation Income, in Pub. 746, or the U.S. Income Tax Return for an S Corporation, in Pub. 946, to report the Gains and Losses Deduction, or “GDS Deduction.” This deduction may be claimed for taxable years beginning before January 1, 2016. 2021-2 Instructions for Form 1120-S — IRS For any taxable year beginning during 2014, apply to an S corporation the provisions in section 2071 for the deduction of losses on the sale or exchange of shares of stock in the S corporation. 2021.7 Instructions for Form 1120-S — IRS 2021-1-1 Instructions for Form 1120-S — IRS For any taxable year beginning during 2014, apply to an S corporation the provisions in section 2071 for the deduction of losses on the sale or exchange of shares of stock in the S corporation. 2021.
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