What is the Difference Between the 1120 and 1120-s Forms?

HT Posted by: Harsh Tiwari
• 26 September, 2025
3 Reply

Form 1120 is a US corporation Income tax return form, which is used to file corporate tax in the United States. This form is mainly used by the C-corporation to report its income losses, gains, credits, deductions, and to calculate tax liability. Whereas Form 1120-S is an important tax return form in the US for businesses that are elected with the S-corporation status. This highlights the treatment of S corporations, which is a combination of partnerships and corporations.

Tags : 1120 and 1120-s Forms

  • Ishita Joshi 30 September, 2025

    When should I file a Form 1120 and Form 1120-S?

    • S
      Savetaxs 01 October, 2025

      For the Form 1120-S, S corporations must file Form 1120 by the 15th of March, which is the third month of the financial year. 

      For the Form 1120, it should be filed by the 15th day of the 4th month after the end of the corporation's tax year, which is 15 April. 

  • Khushi Shetty 28 September, 2025

    Here are the major differences between the Form 1120 and 1120-S. 

    • Form 1120 entity type is a C corporation, whereas Form 1120-S is an S corporation entity. 
    • Form 1120 is taxed at the corporate level, and Form 1120-S is taxed pass-through. 
    • Form 1120 can have an unlimited number of shareholders. On the other hand, Form 1120-S can only have fewer than 100 shareholders. 
    • Form 1120 can be filled out by any type of shareholder, whereas Form 1120-S is only restricted to some of the shareholders. 
    • On the 1120, you get corporate tax rates, and on the Form 1120-S, you get the individual tax rates. 
    • The Form 1120 grants you the benefits of double taxation, and with Form 1120-S, you cannot get double taxation. 
    • Foreign shareholders are allowed on the Form, but on the Form 1120-S, foreign shareholders are not allowed. 
    • In the Form 1120, multiple classes are allowed, but on the Form 1120-S, only one class of stock is allowed. 

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