Tax Preparation Forms

Used by individual taxpayers, this is the most common tax form filed. This form calculates your taxable income, AGI (Adjusted Gross Income), credits, deductions and refunds or amount due.

A Sole Proprietorship business is owned by only 1 member. They file a Schedule C tax form (Profit or Loss From Business) with their 1040 income tax return. (Pass-through entity)

A Single-Member LLC business has only 1 member. The LLC files a Schedule C with there 1040 income tax return like a Sole Proprietorship. An LLC provides added protection for its member. (Pass-through entity) 

A Multi-Member LLC files a separate business tax return. Using form 1065, members are distributed a K-1 with their Partnership's income, deductions, credits. (Pass-through entity) 

A S Corporation files an 1120-S Income Tax Return. Using form 1120-S officers are distributed a K-1 with their Corporation income, deductions and credits. (Pass-through entity) 

A Corporation files an 1120 Corporation Income Tax Return. The Corporation pays the income taxes and officers are not distributed K-1's. (Corporations are not pass-through entities)