Form 1120S – S Corporation Income Tax

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This course is designed for those interested to learn the basics of using Form 1120S in filing corporation income tax by putting together a systematic format of entering data into the form that will minimize errors, isolate problems as they happen, identify mistakes and remove the possibility of having to start the process all over again.

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About This Coursebeginner

This course currently consists of a comprehensive problem showing the data input process of an S Corporation tax return into Form 1120S. It will put together a systematic format of entering data into a Form 1120S that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again.

We will enter each M-1 adjustment individually into both the tax return and an Excel worksheet so that we fully understand how they work. Starting by reviewing the data for the comprehensive problem. Then entering the data into an Excel worksheet that will be used to help us organize the information.

The course will demonstrate how to enter the data into the tax forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible. We will start the data input with the balance sheet. Then we will enter the income statement as it is formatted in the adjusted trial balance.

Next, we will systematically go through Schedule K and M-1 adjustments. We will isolate these adjustments, reviewing them on the tax forms, in the software, and using our Excel worksheet. We will then review the tax forms. Lastly, review the Form K-1s and basic calculations. The course will demonstrate the exporting of the K-1 Form to the individual Form 1040 for an owner of the S corporation.

Who this course is for:

  • Tax professionals
  • Business owners considering a S Corporation form of business entity
  • Tax and accounting students

Our Promise to You

By the end of this course, you will have learned the data input for income tax to Form 1120S.

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Get started today and learn more about Form 1120S for S Corporation income tax preparation.

Course Curriculum

Course Sections

S Corporation Income Tax Course

Downloadable Materials

Comprehensive Problem Part 1 – Review Data

Comprehensive Problem Part 2 – Worksheet

Comprehensive Problem Part 3 – Information Data Input

Comprehensive Problem Part 4 – Data Impute Balance Sheet

Comprehensive Problem Part 5 – Data Impute Income Statement

Comprehensive Problem Part 6 – Data Impute Distributions

Comprehensive Problem Part 9 – Scheduled Charity Donation

Comprehensive Problem Part 8 – Scheduled Adjustments, Dividend And Interest

Comprehensive Problem Part 7 – Scheduled Depreciation

Comprehensive Problem Part 10 – M-1 Tax Exempt Interest

Comprehensive Problem Part 11 – Officer Compensation

Comprehensive Problem Part 12 – M-1 Meals

Comprehensive Problem Part 13 – M-1 Bad Debt

Comprehensive Problem Part 14 – Cost Of Goods Sold

Comprehensive Problem Part 15 – Scheduled K And M-1

Comprehensive Problem Part 16 – K-1

Comprehensive Problem Part 17

Comprehensive Problem Part 18 – Diagnostics

Comprehensive Problem Part 19 – Scheduled K To Form 1040

Compared To Scheduled C FICA Taxes


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