100S Schedule K-1: Shareholder's Share of Income, Deductions, Credits, etc. (2024)
California · FTB · Used for tax years 2024
California Schedule K-1 (100S) reports a shareholder’s share of an S corporation’s income, losses, deductions, credits, and other tax items for 2024. It includes federal amounts, California adjustments, and California-source amounts and credits.
Who files this form
The 2024 California Schedule K-1 (100S) is for use by an S corporation and its shareholders only. It reports a shareholder’s share of income, deductions, credits, and other items.
The form lists these shareholder types: individual, estate/trust, qualified exempt organization, and single member LLC.
What you'll need
Have the following information available to complete the form:
- Shareholder’s name, address, and identifying number.
- Corporation’s name, address, FEIN, and California corporation number.
- Current-year allocation percentage, beginning and ending share counts, and beginning and ending shareholder loan amounts.
- Federal Schedule K-1 (Form 1120-S) amounts, California adjustments, and California-source amounts and credits.
- Form 592-B withholding amount, if reporting on a calendar-year basis.
The form calls for attached schedules for applicable entries, including other portfolio income or loss, the IRC Section 179 expense deduction, credits on lines 13a through 13d, other AMT items, and the outside-California income and deductions on lines 18c and 18d.
Common mistakes
- Do not transfer information from this schedule to your California tax return without first reviewing the shareholder’s instructions for Schedule K-1 (100S). The form specifically cautions shareholders to consult those instructions.
Questions people ask
How do I mark a final or amended Schedule K-1?
Item E has separate checkboxes for a final Schedule K-1 and an amended Schedule K-1.
Where do I indicate whether the shareholder is a California resident?
Answer Yes or No in item G.
How are the amount columns organized?
Column (b) shows federal Schedule K-1 (Form 1120-S) amounts. Column (c) shows California adjustments. Column (d) combines columns (b) and (c), where applicable, to show total amounts under California law. Column (e) shows California-source amounts and credits.
What withholding amount goes on line 14?
Line 14 reports total withholding. For a calendar year, the form says this equals the amount on Form 592-B.
What if the shareholder is a trust, estate, disregarded entity, or nominee?
Item F(2) asks for the name and TIN of the individual or entity responsible for reporting when the listed shareholder is a disregarded entity, trust, estate, nominee, or similar person.