Jack is a 32% owner of Red Hearse, Inc., which is an S-corporation that reported $35,000 of ordinary business income in 2020. He has held his interest in the company for seven years. Jack is not considered a passive investor in the company. Red Hearse's Employer Identification Number (EIN) is 13-49622587.

What form do I need to prepare for tax purpose and what line on 1040 form?

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Tax Forms and Lines for Jack Assuming Jack is a US citizen or resident alien 1 Form Form 1120S This ... View the full answer