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This page intentionally left blank. Drake Software User s Manual Tax Year 2008 Supplement: S Corporations (1120S) support.DrakeSoftware.com (828) 524-8020 Copyright Supplement to Drake Software User

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What is 1120s - s corporations?

Form 1120S is a U.S. tax form used to report the income, losses, and dividends of S corporations.

Who is required to file 1120s - s corporations?

S corporations, also known as small business corporations, are required to file Form 1120S if they meet certain criteria outlined by the IRS.

How to fill out 1120s - s corporations?

To fill out Form 1120S, you need to provide information related to the S corporation's income, deductions, credits, shareholders, and other required details. The form can be filled out manually or electronically using tax software.

What is the purpose of 1120s - s corporations?

The purpose of Form 1120S is to report the income, losses, deductions, and credits of S corporations, allowing the IRS to assess the tax liability of these entities.

What information must be reported on 1120s - s corporations?

The information reported on Form 1120S includes the corporation's income, expenses, deductions, tax credits, shareholder details, and any other required disclosures.

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