Business

Form 1120-S: U.S. Income Tax Return for an S Corporation

The annual tax return for S corporations to report income, losses, deductions, and credits. S corporations pass income through to shareholders via Schedule K-1.

Download Form 1120-S PDFAbout on IRS.govInstructions PDF

Who Files This Form?

Corporations that have elected S corporation status with the IRS.

Key Fields

  • Gross receipts/sales
  • Cost of goods sold
  • Ordinary business income/loss
  • Shareholder distributions
  • Schedule K items

Filing Deadlines

Due Date

March 15 (calendar year) or 15th day of 3rd month after fiscal year end

With Extension

September 15 (calendar year)

Late Filing Penalty

Penalty of $220 per shareholder per month (up to 12 months) for late filing.

Related Forms

Schedule K-1 (1120-S)

Shareholder's Share of Income, Deductions, Credits

Form 1120

U.S. Corporation Income Tax Return

Form 1065

U.S. Return of Partnership Income

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