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

Form 1120S: U.S. Income Tax Return for an S Corporation is a tax document used to report the income, losses, and dividends of S corporation shareholders. Essentially, Form 1120S is an S corporation’s tax return. Form 1120S is part of the Schedule K-1 document. The form identifies the percentage of company shares owned by each individual shareholder for the tax year and must be prepared for all individuals.