Does shareholder need to report 1099-K on form 1120s, I am leaning NO.

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604
    #1

    Does shareholder need to report 1099-K on form 1120s, I am leaning NO.

    Does shareholder need to report 1099-K on form 1120s, I am leaning no for the 1099-K is for information purpose only, correct?
    Tags: None
    • AZUKHiker
      Senior Member
      • Nov 2013
      • 128
      #2
      Correct

      Originally posted by AZ-Tax
      Does shareholder need to report 1099-K on form 1120s, I am leaning no for the 1099-K is for information purpose only, correct?
      Correct, the 1099-K is an information return. For your own due diligence I would make sure that the 1099-K total makes sense based on the income being reported on the return.

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