The
profit of a corporation is taxed to the corporation when earned, and then is taxed
to the shareholders when distributed as dividends. However, shareholders cannot
deduct any loss of the corporation.
If you
are a corporation or an S corporation use the information in the charts below to
help you determine some of the forms that you may be required to
file.
Chart 1 -
Corporation or S Corporation
If you are a corporation or an S corporation then you may be liable
for...
|
Use Form...
|
Income Tax
|
1120 or 1120-A(corporation) 1120S (S
corporation)
|
| |