Schedule M-3 Form 1120-S Guide: Book-to-Tax Reconciliation
08/17/2026
Introduction – What is Schedule M-3 (Form 1120-S)? Schedule M-3 (Form 1120-S), officially titled Net Income (Loss) Reconciliation for S Corporations With Total Assets of $10 Million or More, is an expanded accounting schedule required by the Internal Revenue Service (IRS). It is attached to the primary S corporation tax return, Form 1120-S. The schedule
Schedule K-3 Form 1120-S Guide: S Corp Shareholder Tax
08/17/2026
Introduction – What is Schedule K-3 (Form 1120-S)? Schedule K-3 (Form 1120-S), titled Shareholder’s Share of Income, Deductions, Credits, etc. — International, is an individual tax statement issued by an S corporation to its shareholders. It accompanies the traditional Schedule K-1 and provides a detailed breakdown of each owner’s share of international tax items. The
Schedule K-2 Form 1120-S Guide: S Corp International Tax
08/17/2026
Introduction – What is Schedule K-2 (Form 1120-S)? Schedule K-2 (Form 1120-S), titled Shareholders’ Pro Rata Share Items — International, is an official IRS tax form used by S corporations. It serves as an extension of Schedule K on Form 1120-S and provides standardized reporting for items of international tax relevance. The Internal Revenue Service
IRS Schedule K-1 Form 1120-S Guide: S Corp Shareholder Tax
08/17/2026
Introduction – What is Schedule K-1 (Form 1120-S)? Schedule K-1 (Form 1120-S) is an annual federal tax document issued by an S corporation to each of its shareholders. It details each shareholder’s specific share of the corporation’s income, deductions, credits, and losses for the tax year. The Internal Revenue Service (IRS) governs this form to
IRS Schedule D Form 1120-S Guide: Capital Gains & Losses
08/17/2026
Introduction – What is Schedule D (Form 1120-S)? Schedule D (Form 1120-S) is an official tax schedule used by S corporations to report capital gains, capital losses, and built-in gains. It serves as an attachment to the main corporate tax return, Form 1120-S. The Internal Revenue Service (IRS) governs this form and uses it to
Can You Write Off Home Improvements & Repairs? 2026 Tax Guide
08/10/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 Executive Summary Repairs vs. Improvements: Routine house repairs are never deductible on a primary residence. Capital improvements are not immediately deductible but are added to your home’s cost basis to reduce future capital gains
Is Homeowners Insurance Tax Deductible? 2026 IRS Rules Explained
08/10/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 Executive Summary Primary Residences: Standard homeowners insurance premiums paid on a primary residence are strictly non-deductible personal expenses. Rental Properties: Landlords can fully deduct property insurance premiums on Schedule E as an ordinary and
Are Closing Costs and Settlement Fees Tax Deductible?
08/10/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 Executive Summary Immediate Deductions: Mortgage points, prepaid interest, and prorated property taxes are generally deductible in the year you purchase the home. Cost Basis Additions: Title insurance, recording fees, transfer taxes, and legal fees
Homeowner Tax Benefits: What Can You Write Off in 2026?
08/10/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 Executive Summary The 2026 Standard Deduction: Increased to $32,200 for married couples filing jointly and $16,100 for single filers, setting a higher threshold for itemizing deductions. The Expanded SALT Cap: The State and Local
The 2026 Guide: Does Escrow Pay Property Tax? (And How to Deduct Them)
08/09/2026
Written by the Ourtaxpartner.com Editorial Team | Fact-Checked & Verified | Last Updated: August 2026 | Applies to Tax Year 2026 Executive Summary The Escrow Mechanism: Your lender collects a portion of your annual tax liability every month and pays the county on your behalf when the bill is due. The IRS Golden Rule: You