Question

No Income or Deductions 1120-s

Forum|Forum|1 year ago
March 17, 2025
1 reply
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I've entered all of the numbers for income, deductions, etc, but Form 1120-S is blank for lines 1-28. We have a loss. In addition, we are trying to complete form 8453, and it asks for the number from 1120-S, Line 6. Which is BLANK! What is going wrong that the profit/loss info is not showing up on 1120-S?

T

ThomasM125

You may not see any numbers on your S Corporation page one if you are entering rental income and expenses on Form 8825. In that case, you would enter $0 for the amount on line 6, as you would have no ordinary income, just rental income reported on Form 8825.

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J

JohnPMilburnAuthor

But i paid $190 for TurboTax Business. Shouldn’t the software load those numbers for me after I entered the details?

T

ThomasM125

If you entered rental income and expenses, those entries are listed on Form 8825, Rental Real Estate and Expenses of a Partnership or an S Corporation. It will be included with your Form 1120-S when you file it. That is the way you report a rental activity for an S Corporation. The first page of Form 1120-S does not list any numbers in that case, if all you have is rental income and expenses.