1350                                                       STATE OF SOUTH CAROLINASTATE OF SOUTH CAROLINA                                             SC1120S
                                                                                                DEPARTMENT OF REVENUEDEPARTMENT OF REVENUE                                                 K-1 
                                                       SHAREHOLDER'S SHARE OF SOUTH CAROLINA                                                                                               (Rev. 9/29/21) 
                                  dor.sc.gov                INCOME, DEDUCTIONS, CREDITS, ETC.                                                                                              3517
                                          For calendar year                                     or tax year beginning                          and ending
Shareholder's identifying number                                                                        S Corporation's FEIN
Shareholder's name, address, and ZIP                                                                    S Corporation's name, address, and ZIP

        S Corporation - Check for Active Trade or Business election
Shareholder's percentage of stock ownership for tax year......................................................................                                                                   %
Check if applicable:         (1)       Final K-1                                                (2)       Amended K-1         (3)       Nonresident
Check if the shareholder is exempt from nonresident withholding because the:
                                  shareholder filed an I-309 affidavit with the S Corporation           shareholder is included in a composite return
                                                                                                A                     B                            C                                       D
Shareholder's Pro Rata Share of Current                                                         Federal               Plus or                      Amounts Not                             Amounts
Year Income, Deductions, Credits, etc.                                                          K-1                   Minus                         Allocated or                           Allocated or
                                                                                                Amounts SC Adjustments                          Apportioned to SC                       Apportioned to SC

                                    1 Ordinary business income (loss).......                  1           1                                      1                                        1

                                    2 Net rental real estate income (loss)...                 2           2                                      2                                        2

                                    3 Other net rental income (loss)...........               3           3                                      3                                        3

                                    4 Interest income..................................       4           4                                      4                                        4

                                    5 Dividends...........................................    5           5                                      5                                        5

                                    6 Royalties............................................   6           6                                      6                                        6
                    Income (Loss) 
                                    7 Net short-term capital gain (loss).......               7           7                                      7                                        7

                                    8 Net long-term capital gain (loss)........               8           8                                      8                                        8

                                    9 Net Section 1231 gain (loss).............               9           9                                      9                                        9

                                  10 Other income (loss)...........................         10          10                                     10                                       10

                                  11 Section 179 deduction.......................           11          11                                     11                                       11

                                  12 Other deductions                                       12          12                                     12                                       12

          Deductions

                                  13 Active trade or business income taxed by the S Corporation ...................................................................                     13

                                  14 Net taxable income (add line 1 through line 10, then subtract line 11, line 12, and line 13) .....................                                 14

                                  15 Withholding Tax for nonresident shareholder (see SC1120S K-1 instructions) ........................................                                15
                                     List applicable South Carolina tax credits. (Attach an additional sheet if needed.)

                                  16                                                                                                                                                    16

Credits                           17                                                                                                                                                    17

                                  18 Total South Carolina tax credits ................................................................................................................. 18

                                     35171016

                                           INSTRUCTIONS

General purpose: The S Corporation prepares the SC1120S K-1 to show each shareholder's pro rata share of the 
entity's income. Each shareholder's pro rata income is then allocated or apportioned to South Carolina or states other 
than South Carolina. 
 
Checkboxes: 
     • Check the box for S Corporation - Check for Active Trade or Business election if the S Corporation is 
       electing to pay tax on active trade or business income at the entity level. This election is made at the S 
       Corporation level and applies to all shareholders.  
     • Check the Nonresident box if the shareholder is not a South Carolina resident.  
     • If the nonresident is not subject to withholding, check the appropriate box to indicate if the nonresident 
       shareholder filed an I-309 affidavit or is included in a composite return. 
 
Column A, line 1 through line 12: Enter amounts from the federal Schedule K-1. 
 
Column B, line 1 through line 12: Enter the shareholder's pro rata share of South Carolina adjustments to federal 
taxable income (loss) from SC-K Worksheet, column C. Show additions as a positive number and subtractions in 
brackets as a negative number. 

Column C, line 1 through line 12: Enter the shareholder's pro rata share of income (loss) or deductions allocated or 
apportioned to states other than South Carolina from SC-K Worksheet, column E. 

Column D, line 1 through line 12: Enter the shareholder's pro rata share of income (loss) or deductions allocated or 
apportioned to South Carolina from SC-K Worksheet, column F. 

Line 13: Enter the shareholder's pro rata share of active trade or business income taxed by the S Corporation.  
 
Line 14: Add Column D, line 1 through line 10 and subtract the amounts from line 11, line 12, and line 13.  
 
Line 15: S Corporations are required to withhold 5% of the South Carolina taxable income of nonresident shareholders. 
S Corporations must provide nonresident shareholders a federal 1099 MISC with South Carolina Only written at the top 
showing respective amounts of income and tax withheld. Enter the Withholding Tax amount on line 15. 

Line 16 and line 17: List the shareholder's pro rata share of South Carolina credits. 

Instructions for S Corporation: Include SC1120S K-1s with your SC1120S Income Tax Return. Provide an SC1120S 
K-1 to each shareholder. 
 
Instructions for Shareholder: If filing a paper return, attach to your Income Tax Return. If filing electronically, keep with 
your records.

Social Security Privacy Act Disclosure 
It is mandatory that you provide your Social Security Number on this tax form if you are an individual taxpayer. 42 U.S.C. 
405(c)(2)(C)(i) permits a state to use an individual's Social Security Number as means of identification in administration of 
any tax. SC Regulation 117-201 mandates that any person required to make a return to the SCDOR must provide 
identifying numbers, as prescribed, for securing proper identification. Your Social Security Number is used for 
identification purposes. 
 
The Family Privacy Protection Act 
Under the Family Privacy Protection Act, the collection of personal information from citizens by the SCDOR is limited to 
the information necessary for the SCDOR to fulfill its statutory duties. In most instances, once this information is collected 
by the SCDOR, it is protected by law from public disclosure. In those situations where public disclosure is not prohibited, 
the Family Privacy Protection Act prevents such information from being used by third parties for commercial solicitation 
purposes. 

35172014