Form 8903
π Form 8903
Form 8903 is to be completed by partners and S corporation shareholders from information provided by the partnership or S corporation. Partnerships and S corporations do not complete this form for filing with their tax returns.
β οΈ Before You Begin
Partnership or S corporation returns do not complete Form 8903. Instead, you will enter the related amounts in the correct worksheet so they can flow to the shareholder/partner.
π Where to Enter Amounts for Form 8903
Use this when you need to enter amounts related to Form 8903 on the partnership or S corporation return.
Step 1: Enter the amounts on the correct worksheet
For partnership or S corporation returns, enter amounts related to form 8903 on:
- Line 13d, Sch K (Form 1065) - Other Deductions worksheet for form 1065, or
- Lhe Line 12d, Sch K (Form 1120S) - Other Deductions worksheet for Form 1120S.
Step 2: Confirm where the amounts will flow
These amounts will flow to:
- Page 1, Part III, line 13 of Schedule K-1 (Form 1065), or
- Part III, line 12 of Schedule K-1 (Form 1120S)
Step 3: Understand how itβs used for Form 8903
This information is then used by a partner or shareholder to complete form 8903 in his or her individual tax return.
π Additional Reference
For more information, refer to the IRS instructions for Form 8903.
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