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IRS Draft Forms · Jan 12, 2026

Form 1120-S (Schedule K-1) – Shareholder's Share of Income, Deductions, Credits, etc.

Tax Brief summary and classification of the original reporting.

Bottom Line

💡 Form 1120-S (Schedule K-1) – Shareholder's Share of Income, Deductions, Credi.... Worth reviewing for potential client impact.

Summary

Shareholder's Share of Income, Deductions, Credits, etc.

Classification

Category: fyiPriority: importantReason: Contains 'deduction' - significant update

Applies To

106511201120s

Affected Groups

Partnership/LLC preparers, C-Corp practitioners, S-Corp practitioners

Original Source

We aggregate public tax updates and provide AI-assisted summaries. Please read the original reporting for full details.

Read original article