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This version of the form is not currently in use and is provided for reference only. Download this version of
Form SC1120S K-1
for the current year.
Form SC1120S K-1 Shareholder's Share of South Carolina Income, Deductions, Credits, Etc. - South Carolina
What Is Form SC1120S K-1?
This is a legal form that was released by the South Carolina Department of Revenue - a government authority operating within South Carolina. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form SC1120S?
A: Form SC1120S is a tax form used by shareholders of S corporations in South Carolina to report their share of the corporation's income, deductions, credits, and more.
Q: Who needs to file Form SC1120S?
A: Shareholders of S corporations in South Carolina need to file Form SC1120S to report their share of the corporation's income, deductions, credits, and more.
Q: What information is reported on Form SC1120S?
A: Form SC1120S reports a shareholder's share of the S corporation's income, deductions, credits, and other relevant information.
Q: What is the purpose of Form SC1120S?
A: The purpose of Form SC1120S is to accurately report a shareholder's share of an S corporation's income, deductions, and credits.
Q: When is Form SC1120S due?
A: Form SC1120S is due on the 15th day of the 3rd month following the close of the corporation's tax year, which is usually March 15 for calendar year filers.
Q: Are there any specific instructions for filling out Form SC1120S?
A: Yes, there are specific instructions provided by the South Carolina Department of Revenue that should be followed when filling out Form SC1120S.
Q: What happens if I don't file Form SC1120S?
A: If you are required to file Form SC1120S as a shareholder of an S corporation in South Carolina and fail to do so, you may be subject to penalties or interest.
Q: Can I e-file Form SC1120S?
A: Yes, Form SC1120S can be e-filed through approved tax preparation software or through a qualified tax professional.
Q: Is Form SC1120S only for residents of South Carolina?
A: No, Form SC1120S is specifically for shareholders of S corporations that operate in South Carolina, regardless of the shareholder's residency.
Form Details:
- Released on September 16, 2019;
- The latest edition provided by the South Carolina Department of Revenue;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a printable version of Form SC1120S K-1 by clicking the link below or browse more documents and templates provided by the South Carolina Department of Revenue.
Download Form SC1120S K-1 Shareholder's Share of South Carolina Income, Deductions, Credits, Etc. - South Carolina
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