Does MyExpatTaxes support the Filing of S-Corp Returns (Form 1120-S)

We do not prepare S-Corporation returns (Form 1120-S). However, we can assist with preparing your personal return using the K-1 that reports your pass-through income from the S-Corp.

Here's an overview of what we'll cover—click any section to jump ahead.

What Qualifies as an S-Corporation?
Do I Need to File an S-Corporation Return (Form 1120-S)?
How S-Corporation Income Is Reported on Your Personal Return
S-Corp K-1 Income Usually Can’t Be Excluded Under the FEIE

What Qualifies as an S-Corporation?

To qualify for S corporation status, the corporation must meet the following requirements:

Be a domestic corporation
Have only allowable shareholders

Can be individuals, certain trusts, estates, and
May not be partnerships, corporations, or non-resident alien shareholders

Have no more than 100 shareholders
Have only one class of stock
Not be an ineligible corporation (i.e., certain financial institutions, insurance companies, and domestic international sales corporations)

Do I Need to File an S-Corporation Return (Form 1120-S)?

Yes. All S-Corporations must file Form 1120-S annually at the business level.

Important to know:

Form 1120-S is filed by the S-Corporation
Shareholders receive Schedule K-1 from that filing
MyExpatTaxes does not prepare Form 1120-S
We can help prepare your personal tax return using the K-1 you receive after completing 1120-S

How S-Corporation Income Is Reported on Your Personal Return

S-Corporation profits pass through to shareholders and are reported on Schedule K-1.

This income is:

Reported on your individual tax return
Taxable whether or not you take distributions
Separate from any W-2 wages you receive from the S-Corp

S-Corp K-1 Income Usually Can’t Be Excluded Under the FEIE

You usually can’t use the Foreign Earned Income Exclusion to exclude S-Corporation pass-through income reported on Schedule K-1.

The Foreign Earned Income Exclusion (FEIE) generally applies only to earned income, such as W-2 wages.

This is a common misconception among S-Corp owners living abroad. Only wages paid through payroll may be eligible for the FEIE—not S-Corp profits reported on Schedule K-1.

What Qualifies as an S-Corporation?

To qualify for S corporation status, the corporation must meet the following requirements:

Be a domestic corporation

Have only allowable shareholders

Can be individuals, certain trusts, estates, and
May not be partnerships, corporations, or non-resident alien shareholders

Have no more than 100 shareholders

Have only one class of stock

Not be an ineligible corporation (i.e., certain financial institutions, insurance companies, and domestic international sales corporations)

Do I Need to File an S-Corporation Return (Form 1120-S)?

Yes. All S-Corporations must file Form 1120-S annually at the business level.

Important to know:

Form 1120-S is filed by the S-Corporation

Shareholders receive Schedule K-1 from that filing

MyExpatTaxes does not prepare Form 1120-S

We can help prepare your personal tax return using the K-1 you receive after completing 1120-S

S-Corp K-1 Income Usually Can’t Be Excluded Under the FEIE

You usually can’t use the Foreign Earned Income Exclusion to exclude S-Corporation pass-through income reported on Schedule K-1.

The Foreign Earned Income Exclusion (FEIE) generally applies only to earned income, such as W-2 wages.

This is a common misconception among S-Corp owners living abroad. Only wages paid through payroll may be eligible for the FEIE—not S-Corp profits reported on Schedule K-1.