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H
hitechcpa
Level 1
June 19, 2020
Question

How can I specifically allocate expenses to the K-1 on form 1120S?

  • June 19, 2020
  • 1 reply
  • 8 views
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1 reply

abctax55
abctax55
Level 15
June 19, 2020

Anything (income, expenses, distributions..) have to be allocated based on % of ownership of each shareholder in an S-Corp. 

Otherwise, you have a C-Corp as the S election is voided. 

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