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

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    #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?
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    #2
    Correct

    Originally posted by AZ-Tax View Post
    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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