Entity types & tax forms (Schedule C, 1065, 1120S, K-1)
A quick map of how sole props, partnerships, and S-corps file — and why it affects your books.
Entity types & tax forms
Your business structure determines how you file. A single-member LLC or sole proprietor reports on a Schedule C; a multi-member LLC or partnership files a 1065 (and issues each owner a K-1); an S-corporation files an 1120S. Your structure also shapes how owner pay, equity, and distributions are recorded.
Education, not tax advice
This is a general explainer. Your specific filing situation is handled by your Uplinq tax team and bookkeeper.
What this article will cover
- Schedule C vs. 1065 vs. 1120S, in plain English
- What a K-1 is
- Why entity type changes how your books are set up
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