Form 1120-S U.S. Income Tax Return for an S Corporation
Do not file this form unless the corporation has filed oris attaching Form 2553 to elect to be an S corporation.Go to www.irs.gov/Form1120S for instructions and the latest information.
For calendar year 2025 or tax year beginning Â
1
   , 2025, ending,  Â
2
   20  Â
3
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A S election effective date
 -
Month
 -
Day
Year
2 digit month, 2 digit day, 4 digit year
Date
B Business activity code number (see instructions)
Name
D Employer identification number
Address
Street Address
Street Address Line 2
City
State / Province
Postal / Zip Code
Please Select
Afghanistan
Albania
Algeria
American Samoa
Andorra
Angola
Anguilla
Antigua and Barbuda
Argentina
Armenia
Aruba
Australia
Austria
Azerbaijan
The Bahamas
Bahrain
Bangladesh
Barbados
Belarus
Belgium
Belize
Benin
Bermuda
Bhutan
Bolivia
Bosnia and Herzegovina
Botswana
Brazil
Brunei
Bulgaria
Burkina Faso
Burundi
Cambodia
Cameroon
Canada
Cape Verde
Cayman Islands
Central African Republic
Chad
Chile
China
Christmas Island
Cocos (Keeling) Islands
Colombia
Comoros
Congo
Cook Islands
Costa Rica
Cote d'Ivoire
Croatia
Cuba
Curaçao
Cyprus
Czech Republic
Democratic Republic of the Congo
Denmark
Djibouti
Dominica
Dominican Republic
Ecuador
Egypt
El Salvador
Equatorial Guinea
Eritrea
Estonia
Ethiopia
Falkland Islands
Faroe Islands
Fiji
Finland
France
French Polynesia
Gabon
The Gambia
Georgia
Germany
Ghana
Gibraltar
Greece
Greenland
Grenada
Guadeloupe
Guam
Guatemala
Guernsey
Guinea
Guinea-Bissau
Guyana
Haiti
Honduras
Hong Kong
Hungary
Iceland
India
Indonesia
Iran
Iraq
Ireland
Israel
Italy
Jamaica
Japan
Jersey
Jordan
Kazakhstan
Kenya
Kiribati
North Korea
South Korea
Kosovo
Kuwait
Kyrgyzstan
Laos
Latvia
Lebanon
Lesotho
Liberia
Libya
Liechtenstein
Lithuania
Luxembourg
Macau
Macedonia
Madagascar
Malawi
Malaysia
Maldives
Mali
Malta
Marshall Islands
Martinique
Mauritania
Mauritius
Mayotte
Mexico
Micronesia
Moldova
Monaco
Mongolia
Montenegro
Montserrat
Morocco
Mozambique
Myanmar
Nagorno-Karabakh
Namibia
Nauru
Nepal
Netherlands
Netherlands Antilles
New Caledonia
New Zealand
Nicaragua
Niger
Nigeria
Niue
Norfolk Island
Turkish Republic of Northern Cyprus
Northern Mariana
Norway
Oman
Pakistan
Palau
Palestine
Panama
Papua New Guinea
Paraguay
Peru
Philippines
Pitcairn Islands
Poland
Portugal
Puerto Rico
Qatar
Republic of the Congo
Romania
Russia
Rwanda
Saint Barthelemy
Saint Helena
Saint Kitts and Nevis
Saint Lucia
Saint Martin
Saint Pierre and Miquelon
Saint Vincent and the Grenadines
Samoa
San Marino
Sao Tome and Principe
Saudi Arabia
Senegal
Serbia
Seychelles
Sierra Leone
Singapore
Slovakia
Slovenia
Solomon Islands
Somalia
Somaliland
South Africa
South Ossetia
South Sudan
Spain
Sri Lanka
Sudan
Suriname
Svalbard
eSwatini
Sweden
Switzerland
Syria
Taiwan
Tajikistan
Tanzania
Thailand
Timor-Leste
Togo
Tokelau
Tonga
Transnistria Pridnestrovie
Trinidad and Tobago
Tristan da Cunha
Tunisia
Turkey
Turkmenistan
Turks and Caicos Islands
Tuvalu
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Uruguay
Uzbekistan
Vanuatu
Vatican City
Venezuela
Vietnam
British Virgin Islands
Isle of Man
US Virgin Islands
Wallis and Futuna
Western Sahara
Yemen
Zambia
Zimbabwe
Other
Country
E Date incorporated
 -
Month
 -
Day
Year
2 digit month, 2 digit day, 4 digit year
Date
F Total assets (see instructions)
4
C Check if Sch. M-3 attached
G Is the corporation electing to be an S corporation beginning with this tax year? See instructions.
Yes
No
H Check if:
(1) Final return
(2) Name change
(3) Address change
(4) Amended return
(5) S election termination
I Enter the number of shareholders who were shareholders during any part of the tax year
J Check if corporation:
(1) Aggregated activities for section 465 at-risk purposes
(2) Grouped activities for section 469 passive activity purposes
Income
1a Gross receipts or sales
b Less returns and allowances
c Balance
2 Cost of goods sold (attach Form 1125-A)
3 Gross profit. Subtract line 2 from line 1c
4 Net gain (loss) from Form 4797, Part II, line 17 (attach Form 4797)
5 Other income (loss) (see instructions-attach statement)
6 Total income (loss). Add lines 3 through 5
Deductions (see instructions for limitations)
7 Compensation of officers (see instructions-attach Form 1125-E)
8 Salaries and wages (less employment credits)
9 Repairs and maintenance
10 Bad debts
11 Rents
12 Taxes and licenses
13 Interest (see instructions)
14 Depreciation from Form 4562 not claimed on Form 1125-A or elsewhere on return (attach Form 4562)
15 Depletion (do not deduct oil and gas depletion)
16 Advertising
17 Pension, profit-sharing, etc., plans
18 Employee benefit programs
19 Energy efficient commercial buildings deduction (attach Form 7205)
20 Other deductions (attach statement)
21 Total deductions. Add lines 7 through 20
22 Ordinary business income (loss). Subtract line 21 from line 6
Tax and Payments
23a Excess net passive income or LIFO recapture tax (see instructions)
b Tax from Schedule D (Form 1120-S)
c Add lines 23a and 23b (see instructions for additional taxes)
24a Current year's estimated tax payments and preceding year's overpayment credited to the current year
b Tax deposited with Form 7004
c Credit for federal tax paid on fuels (attach Form 4136)
d Elective payment election amount from Form 3800
z Add lines 24a through 24d
25 Estimated tax penalty (see instructions). Check if Form 2220 is attached
Check if Form 2220 is attached
26 Amount owed. If line 24z is smaller than the total of lines 23c and 25, enter amount owed
27 Overpayment. If line 24z is larger than the total of lines 23c and 25, enter amount overpaid
28 Enter amount from line 27: a Credited to 2026 estimated tax
b Refunded
c Routing number
d Type:
Checking
Savings
e Account number
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Signature of officer
Date
 -
Month
 -
Day
Year
2 digit month, 2 digit day, 4 digit year
Date
Title
May the IRS discuss this return with the preparer shown below? See instructions.
Yes
No
Paid Preparer Use Only
Preparer's name
First Name
Last Name
Preparer's signature
Date
 -
Month
 -
Day
Year
2 digit month, 2 digit day, 4 digit year
Date
5
Check if self-employed
PTIN
Firm's name
Firm's EIN
Firm's address
Phone no.
Format: (000) 000-0000.
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Schedule B
Other Information (see instructions)
Schedule B Other Information (see instructions)
Rows
Yes
No
Check accounting method:
See the instructions and enter the:
a Business activity b Product or service
At any time during the tax year, was any shareholder of the corporation a disregarded entity, a trust, an estate, or a nominee or similar person? If "Yes," attach Schedule B-1, Information on Certain Shareholders of an S Corporation
At any time during the tax year, was any shareholder of the corporation a disregarded entity, a trust, an estate, or a nominee or similar person? If "Yes," attach Schedule B-1, Information on Certain Shareholders of an S Corporation
At the end of the tax year, did the corporation: Own directly 20% or more, or own, directly or indirectly, 50% or more of the total stock issued and outstanding of any foreign or domestic corporation? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (v)
below
1 Check accounting method:
Cash
Accrual
(specify)
2 See the instructions and enter the: a Business activity
b Product or service
Rows
(i) Name of Corporation
(ii) Employer Identification Number (if any)
(iii) Country of Incorporation
(iv) Percentage of Stock Owned
(v) If Percentage in (iv) Is 100%, Enter the Date (if applicable) a Qualified Subchapter S Subsidiary Election Was Made
1
2
3
4
b Own directly an interest of 20% or more, or own, directly or indirectly, an interest of 50% or more in the profit, loss, or capital in any foreign or domestic partnership (including an entity treated as a partnership) or in the beneficial interest of a trust? For rules of constructive ownership, see instructions. If "Yes," complete (i) through (v) below
Yes
No
Rows
(i) Name of Entity
(ii) Employer Identification Number (if any)
(iii) Type of Entity
(iv) Country of Organization
(v) Maximum Percentage Owned in Profit, Loss, or Capital
1
2
3
4
5a At the end of the tax year, did the corporation have any outstanding shares of restricted stock? If "Yes," complete lines (i) and (ii) below.
Yes
No
(i) Total shares of restricted stock
(ii) Total shares of non-restricted stock
b At the end of the tax year, did the corporation have any outstanding stock options, warrants, or similar instruments? If "Yes," complete lines (i) and (ii) below.
Yes
No
(i) Total shares of stock outstanding at the end of the tax year
(ii) Total shares of stock outstanding if all instruments were executed
6 Has this corporation filed, or is it required to file, Form 8918, Material Advisor Disclosure Statement, to provide information on any reportable transaction?
Yes
No
6
Check this box if the corporation issued publicly offered debt instruments with original issue discount
If checked, the corporation may have to file Form 8281, Information Return for Publicly Offered Original Issue Discount Instruments.
8 If the corporation (a) was a C corporation before it elected to be an S corporation or the corporation acquired an asset with a basis determined by reference to the basis of the asset (or the basis of any other property) in the hands of a C corporation, and (b) has net unrealized built-in gain in excess of the net recognized built-in gain from prior years, enter the net unrealized built-in gain reduced by net recognized built-in gain from prior years. See instructions
9 Did the corporation have an election under section 163() for any real property trade or business or any farming businessin effect during the tax year? See instructions
Yes
No
a The corporation owns a pass-through entity with current, or prior year carryover, excess business interest expense.b The corporation's aggregate average annual gross receipts (determined under section 448(c)) for the 3 tax years preceding the current tax year are more than $31 million and the corporation has business interest expense.c The corporation is a tax shelter and the corporation has business interest expense.If "Yes," complete and attach Form 8990, Limitation on Business Interest Expense Under Section 163(j).
Yes
No
11 Does the corporation satisfy both of the following conditions?
Yes
No
a The corporation's total receipts (see instructions) for the tax year were less than $250,000.
b The corporation's total assets at the end of the tax year were less than $250,000.
If "Yes," the corporation is not required to complete Schedules L and M-1.
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Schedule B Other Information (see instructions) (continued)
Schedule B Other Information (see instructions) (continued)
Rows
Yes
No
During the tax year, did the corporation have any non-shareholder debt that was canceled, was forgiven, or had the terms modified so as to reduce the principal amount of the debt?
If "Yes," enter the amount of principal reduction if yes enter amount
During the tax year, was a qualified subchapter S subsidiary election terminated or revoked? If "Yes," see instructions
Did the corporation make any payments that would require it to file Form(s) 1099?
If "Yes," did or will the corporation file required Form(s) 1099?
Does the corporation intend to self-certify as a Qualified Opportunity Fund?
If "Yes," complete and attach Form 8996. Enter the amount (if any) from Form 8996, line 15 if yes enter amount
At any time during the tax year, did the corporation: (a) receive (as a reward, award, or payment for property or services); or (b) sell, exchange, or otherwise dispose of a digital asset (or a financial interest in a digital asset)? See instructions
Reserved for future use
Schedule K Shareholders' Pro Rata Share Items
1 Ordinary business income (loss) (page 1, line 22)
2 Net rental real estate income (loss) (attach Form 8825)
3a Other gross rental income (loss)
b Expenses from other rental activities (attach statement)
c Other net rental income (loss). Subtract line 3b from line 3a
4 Interest income
5 Dividends: a Ordinary dividends
b Qualified dividends
6 Royalties
7 Net short-term capital gain (loss) (attach Schedule D (Form 1120-S))
8a Net long-term capital gain (loss) (attach Schedule D (Form 1120-S))
b Collectibles (28%) gain (loss)
c Unrecaptured section 1250 gain (attach statement)
9 Net section 1231 gain (loss) (attach Form 4797)
10 Other income (loss) (see instructions) Type:
11 Section 179 deduction (attach Form 4562)
12a Cash charitable contributions
b Noncash charitable contributions
c Investment interest expense
d Section 59(e)(2) expenditures Type:
e Other deductions (see instructions) Type:
13a Low-income housing credit (section 42(j)(5))
b Low-income housing credit (other)
c Qualified rehabilitation expenditures (rental real estate) (attach Form 3468, if applicable)
d Other rental real estate credits (see instructions) Type:
e Other rental credits (see instructions) Type:
f Biofuel producer credit (attach Form 6478)
g Other credits (see instructions) Type:
Reporting items of international tax relevance
Qualified for an exception to filing Schedule K-2
15a Post-1986 depreciation adjustment
b Adjusted gain or loss
c Depletion (other than oil and gas)
d Oil, gas, and geothermal properties-gross income
e Oil, gas, and geothermal properties-deductions
f Other AMT items (attach statement)
16a Tax-exempt interest income
16b Other tax-exempt income
16c Nondeductible expenses
16d Distributions (attach statement if required) (see instructions)
16e Repayment of loans from shareholders
16 f Foreign taxes paid or accrued
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Schedule K Shareholders' Pro Rata Share Items (continued)
Schedule K Shareholders' Pro Rata Share Items (continued)
Rows
Total amount
17a Investment income
b Investment expenses
c Dividend distributions paid from accumulated earnings and profits
d Other items and amounts (attach statement)
18 Income (loss) reconciliation. Combine the total amounts on lines 1 through 10. From the result,subtract the sum of the amounts on lines 11 through 12e and 16f
Schedule L Balance Sheets per Books
Rows
Beginning of tax year (a)
Beginning of tax year (b)
End of tax year (c)
End of tax year (d)
1 Cash
2a Trade notes and accounts receivable . . .
b Less allowance for bad debts
3 Inventories
4 U.S. government obligation
5 Tax-exempt securities (see instructions)
6 Other current assets (attach statement)
7 Loans to shareholders
8 Mortgage and real estate loans
9 Other investments (attach statement)
10a Buildings and other depreciable assets
b Less accumulated depreciation
11a Depletable assets
b Less accumulated depletion
12 Land (net of any amortization)
13a Intangible assets (amortizable only)
b Less accumulated amortization
14 Other assets (attach statement)
15 Total assets
Liabilities and Shareholders’ Equity
16 Accounts payable
17 Mortgages, notes, bonds payable in less than 1 year
18 Other current liabilities (attach statement)
19 Loans from shareholders
20 Mortgages, notes, bonds payable in 1 year or more
21 Other liabilities (attach statement)
22 Capital stock
23 Additional paid-in capital
24 Retained earnings
25 Adjustments to shareholders’ equity (attach statement)
26 Less cost of treasury stock
27 Total liabilities and shareholders’ equity
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Schedule M-1
Reconciliation of Income (Loss) per Books With Income (Loss) per ReturnNote: The corporation may be required to file Schedule M-3. See instructions.
1 Net income (loss) per books
2 Income included on Schedule K, lines 1, 2, 3c, 4, 5a, 6, 7, 8a, 9, and 10, not recorded on books this year (itemize):
3 Expenses recorded on books this year not included on Schedule K, lines 1 through 12e, and 16f (itemize):
3a Depreciation
3b Travel and entertainment
4 Add lines 1 through 3
5 Income recorded on books this year not included on Schedule K, lines 1 through 10 (itemize):
5a Tax-exempt interest
6 Deductions included on Schedule K, lines 1 through 12e, and 16f, not charged against book income this year (itemize):
6a Depreciation
7 Add lines 5 and 6
8 Income (loss) (Schedule K, line 18). Subtract line 7 from line 4
Schedule M-2
Analysis of Accumulated Adjustments Account, Shareholders' Undistributed Taxable Income Previously Taxed, Accumulated Earnings and Profits, and Other Adjustments Account (see instructions)
Schedule M-2 Analysis of Accumulated Adjustments Account, Shareholders' Undistributed Taxable Income Previously Taxed, Accumulated Earnings and Profits, and Other Adjustments Account (see instructions)
Rows
(a) Accumulated adjustments account
(b) Shareholders' undistributed taxable income previously taxed
(c) Accumulated earnings and profits
(d) Other adjustments account
Balance at beginning of tax year
Ordinary income from page 1, line 22
Other additions
Loss from page 1, line 22
Other reductions
Combine lines 1 through 5
Distributions
Balance at the end of tax year. Subtract line 7 from line 6
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