Support CenterForm K-1 1120S where do I enter information for line 16c non deductible expenses - Figure for line 16C (non deductible expenses) on the K1 1120S for a 1040. Instructions say to look at the instructions for Sch K1 1120S...
🔍 Form K-1 1120S: Where to Enter Line 16C (Non-Deductible Expenses)
Question: Where do I enter information for line 16c non-deductible expenses on the K-1 (Form 1120-S) for a 1040? The instructions say to look at the instructions for Sch K-1 1120-S.
⚠️ Before You Begin
Review the Instructions for Schedule K-1 (Form 1120-S) (2019), specifically Page 18, for guidance on Code C.
📊 What Line 16C (Non-Deductible Expenses) Means
Code C. Nondeductible expenses.
Use this when you need to understand what to do with nondeductible expenses reported on the K-1.
The nondeductible expenses paid or incurred by the corporation aren't deductible on your tax return.
Generally, you must decrease the basis of your stock by this amount.
✅ Key Takeaway
Non-deductible expenses are not taken as deductions on your 1040. Instead, they generally affect your stock basis.
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