What do the codes mean in Box 12 of the K-1 for S Corporations?
Other deductions
A: Cash contributions (60%)
B: Cash contributions (30%)
C: Noncash contributions (50%)
D: Noncash contributions (30%)
E: Capital gain property to a 50% organization (30%)
F: Capital gain property (20%)
G: Contributions (100%)
H: Investment interest expense
I: Deductions--royalty income
J: Section 59(e)(2) expenditures*
L: Deductions--portfolio (other)
M: Preproductive period expenses
O: Reforestation expense deduction
W: Soil and water conservation
X: Film, television, theatrical, and sound recording production expenditures
Y: Expenditures for removal of barriers
Z: Itemized deductions
AA: Contributions to a capital construction fund (CCF)
AB: Penalty on early withdrawal of savings
AC: Interest expense allocated to debt-financed distributions
ZZ: Other Deductions - The corporation should give you a description and of the amount of your share for each of these items.
All other codes are reserved by the IRS for future use.
*Not supported* Some codes require additional forms or adjustments that aren't currently supported by FreeTaxUSA. In this case, you may need to file another way.
See the Schedule K-1 (Form 1120-S) instructions for more info about these codes.
What if the boxes on my K-1 don't match?
A: Cash contributions (60%)
B: Cash contributions (30%)
C: Noncash contributions (50%)
D: Noncash contributions (30%)
E: Capital gain property to a 50% organization (30%)
F: Capital gain property (20%)
G: Contributions (100%)
H: Investment interest expense
I: Deductions--royalty income
J: Section 59(e)(2) expenditures*
L: Deductions--portfolio (other)
M: Preproductive period expenses
O: Reforestation expense deduction
W: Soil and water conservation
X: Film, television, theatrical, and sound recording production expenditures
Y: Expenditures for removal of barriers
Z: Itemized deductions
AA: Contributions to a capital construction fund (CCF)
AB: Penalty on early withdrawal of savings
AC: Interest expense allocated to debt-financed distributions
ZZ: Other Deductions - The corporation should give you a description and of the amount of your share for each of these items.
All other codes are reserved by the IRS for future use.
*Not supported* Some codes require additional forms or adjustments that aren't currently supported by FreeTaxUSA. In this case, you may need to file another way.
See the Schedule K-1 (Form 1120-S) instructions for more info about these codes.
What if the boxes on my K-1 don't match?
