IRS Form 1120S Line by Line. IRS Form 1120S, used by S-corporations to report income, deductions, and credits, requires detailed reporting on each line. Key sections include income, deductions, shareholder distributions, and tax credits. A line-by-line breakdown ensures accurate reporting for tax purposes, helping avoid errors and maximize potential deductions. De"More Tax Service LLC: https://www.demoretaxservice.com E: [email protected] IRS Form https://www.irs.gov/forms-instructions