The TaxAct^® program does not support the direct entry of the S Corporation Schedule K-1 (Form 1120-S) into the Business Tax Programs. You will need to enter the income reported on the Schedule K-1 (Form 1120-S) in the applicable income fields and the business deductions reported on the Schedule K-1 (Form 1120-S) as business expenses for your 1065 Partnership, 1120-S S-Corporation, or 1120 Corporation business tax return.

You can use IRS Schedule K-1 (Form 1120-S) for information on where each item should be entered into your business tax program.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.