Items that are not entered directly into 1120-S may need to be reported elsewhere in the program. Please review the information below for instructions for the boxes not included in the program. Please be aware that several entries may not be supported by the program at all at this time.
Box 10 Click here to view the Shareholder's Instructions regarding Box 10
Code |
Description | Where to Place Item on Return |
B |
Involuntary Conversions | Federal > Deductions > Itemized Deductions > Less Common Deductions > Casualties and Losses |
C |
Sec. 1256 contracts & straddles |
Form 6781, line 1 Federal > Income > Less Common Income > Gains and Losses from Section 1256 - Form 6781 |
D |
Mining exploration costs recapture |
|
F |
Inclusions of subpart F income | Federal > Income (Select my forms) > Less Common Income > Other income |
G |
Section 951(a)(1)(B) inclusions | Federal > Income (Select my forms) > Less Common Income > Other income |
H |
Reserved for future use. |
|
I |
Gain (loss) from disposition of oil, gas, geothermal, or other mineral properties |
Report a loss in Part I of Form 4797. Report a gain in Part III of Form 4797 Federal > Income (Select my forms) > Less Common Income > Form 4797 |
J |
Recoveries of tax benefit items. | Federal > Income (Select my forms) > Less Common Income > Other income |
K |
Gambling gains and losses. |
If the corporation wasn't engaged in the trade or business of gambling: Federal > Income (Select my forms) > Less Common Income > Other Compensation > Other Gambling Income not reported on W-2G If the corporation was engaged in the trade or business of gambling: Federal > Income (Select my forms) > Less Common Income > create a second 1120-S with amount entered into box 1. (This will generate Schedule E entries, line 28). |
L |
Reserved for future use |
|
M |
Gain eligible for section 1045 rollover (replacement stock purchased by the corporation) |
Federal > Income (Select my forms) > Investments > Stocks, Mutual Funds, Cryptocurrency, Collectibles, etc. > Choose to enter your sale manually. Use adjustment code 'R' for Rollover of Gain from QSB Stock, then enter the postponed gain as a negative in the Adjustments box. |
N |
Gain eligible for section 1045 rollover (replacement stock not purchased by the corporation) |
Federal > Income (Select my forms) > Investments > Stocks, Mutual Funds, Cryptocurrency, Collectibles, etc. > Choose to enter your sale manually. Use adjustment code 'R' for Rollover of Gain from QSB Stock, then enter the deferred gain as a negative in the Adjustments box. |
O |
Sale or exchange of QSB stock with section 1202 exclusion |
Federal > Income (Select my forms) > Investments > Stocks, Mutual Funds, Cryptocurrency, Collectibles, etc. > Choose to enter your sale manually. |
P-R |
Reserved for future use |
|
S |
Non-portfolio capital gain (loss) | Federal > Income (Select my forms) > Investments > Stocks, Mutual Funds, Cryptocurrency, Collectibles, etc. > Choose to enter your sale manually. |
ZZ |
Other income (loss) | Please refer to the statement your partnership supplied to report code ZZ on your return. |
Box 12 Click here to see our article regarding Box 12.
Box 13 Click here to see our article regarding box 13.
Box 14 Click here to view the Shareholder's Instructions regarding Box 14
The program does not support the entries for Line 14 (Foreign Transactions). If you have amounts within this box, please refer to the IRS instructions for Form 1116, Foreign Tax Credit.
Box 15 Click here to view the Shareholder's Instructions regarding Box 15
| Code | Description | Where to Place Item on Return |
| D | Oil, gas & geothermal - gross income | Federal Section > Other Taxes > Alternative Minimum Tax |
| E | Oil, gas & geothermal - deductions | Federal Section > Other Taxes > Alternative Minimum Tax |
| F | Other AMT items | Federal Section > Other Taxes > Alternative Minimum Tax |
Box 16 Click here to view the Shareholder's Instructions regarding Box 16
| Code | Description | Where to Place Item on Return |
| B | Other tax-exempt income | Federal > Income (Select my forms) > Less Common Income > K-1 Earnings > Schedule K-1 Form 1120S > Shareholder Stock and Basis Limitation - Form 7203 > Part I. Shareholder Stock Basis > Enter the code B amount in the box labeled "Other items that increase stock basis." |
| C | Nondeductible expenses | Federal > Income (Select my forms) > Less Common Income > K-1 Earnings > Schedule K-1 Form 1120S > Shareholder Stock and Basis Limitation - Form 7203 > Part I. Shareholder Stock Basis > Enter the code C amount in the box labeled "Other items that decrease stock basis." |
| D | Distributions | Please refer to our article regarding box 16 |
| E | Repayment of loans from shareholders | Please refer to our article regarding box 16 |
| F | Foreign taxes paid or accrued |
Federal > Income (Select my forms) > Less Common Income > K-1 Earnings > Schedule K-1 Form 1120S > Shareholder Stock and Basis Limitation - Form 7203 > Complete the "Stock Information" and "Part I. Shareholder Stock Basis" sections. |
Box 17 Click here to view our article regarding box 17.
Source: Schedule K-1 (Form 1120-S) Shareholder's Instructions