Schedule K-1 (Form 1120-S) - Entering in Program

To enter or review information on Schedule K-1 (Form 1120-S) Shareholder’s Share of Income, Deductions, Credits, etc.:

  1. From within your TaxAct return (Online or Desktop), click Federal (on smaller devices, click in the top left corner of your screen, then click Federal).
  2. Click the Business Income dropdown, then click S-Corporation income (Form 1120S Schedule K-1).
  3. Click + Add S Corporation Schedule K-1 to create a new copy of the form or click Edit to review a form already created (desktop program: click Review instead of Edit).
  4. Continue with the interview process to enter your information.