1366-f: Fill out & sign online

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The easiest way to modify 1366-f in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Handling paperwork with our extensive and intuitive PDF editor is straightforward. Make the steps below to fill out 1366-f online quickly and easily:

Sign in to your account. Sign up with your credentials or register a free account to try the service before upgrading the subscription.
Upload a document. Drag and drop the file from your device or import it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit 1366-f. Easily add and highlight text, insert pictures, checkmarks, and signs, drop new fillable fields, and rearrange or delete pages from your document.
Get the 1366-f accomplished. Download your modified document, export it to the cloud, print it from the editor, or share it with others via a Shareable link or as an email attachment.

Benefit from DocHub, the most straightforward editor to promptly handle your paperwork online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Contact us

Do I pay taxes on S-corp distributions?

If a shareholder receives a non-dividend distribution from an S corporation, the distribution is tax-free to the extent it does not exceed the shareholders stock basis. Debt basis is not considered when determining the taxability of a distribution.

What is Section 1366 of the IRS Code?

Section 1366(a)(1)(A) provides that, in determining the tax of a shareholder, there shall be taken into account the shareholders pro rata share of the corporations items of income, loss, deduction, or credit the separate treatment of which could affect the liability for tax of any shareholder.

Does the 1377 a 2 election need to be signed?

In addition, the election statement must be signed by an individual authorized to sign the corporations income tax return. The 1377(a)(2) election is made by attaching a statement to the S corporations income tax return for the year in which a shareholders interest was terminated.

Who are eligible shareholders for S-corp?

Shareholder Requirements Most importantly, you must have no more than 100 shareholders to qualify as an S-corporation. You must also only have what the IRS defines as eligible shareholders, meaning shareholders must be individuals, certain trusts or estates. Shareholders also must be U.S. citizens or legal residents.

What is IRC 1377?

I.R.C. 1377(a)(1) In General Except as provided in paragraph (2), each shareholders pro rata share of any item for any taxable year shall be the sum of the amounts determined with respect to the shareholder-- I.R.C. 1377(a)(1)(A) by assigning an equal portion of such item to each day of the taxable year, and.

Related forms

be ready to get more