Schedule K-1, 1099 misc.

Where do I put losses reported to me from Form 1120S
(as a shareholder only)? All that is one the K-1 form is on line
one (the amount of the loss).

What do I do if I received a 1099 misc form for a one time
sale? (Not a business)

You'll need to fill in the K-1 worksheeet of the software your using. If not go see a tax preparer. You could run into trouble becasue S-Corp info flows and effects many different parts of your return.

Regarding your 1099 it should go in the other income line fo your 1040. Hopefully the 1099 doesn't have the dollars in the box marked nonemployee compensation otherwise you could be subject to SS taxes

Regarding your 1099 it should go in the other income line fo your 1040. Hopefully the 1099 doesn't have the dollars in the box marked nonemployee compensation otherwise you could be subject to SS taxes


What if the 1099 was for a one time event? Do we even need to
report it? What if we lost money in the transaction?