How can i declare loss and earns, supplies costs etc of my S-Corp on my individual tax declaration? and IMG_1563_1600x1067

How can i declare loss and earns, supplies costs etc of my S-Corp on my individual tax declaration?

I know S-corps are subject to no double taxation. Earns and loss, supplies expenses, etc etc can be declared on individual shareholders tax declaration. I dont know how though. I am the sole proprietor of a S-corp in California.


Taxation best answer:

Answer by Bob F
When you have the tax return for the S-Corp done, part of that return is a Schedule K and a set of Schedule K-1s that carry information from the S-Corp to each of the owner's individual returns. The gain or loss, as well as any deductions, credits, or any special things like recaptures are all passed through to the owners that way.

Taxation

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