How does a C-corp report 1065 k-1 income ?

Question

My client is a doctor, and created a Corp to receive his income from a Partnership w/ others MDs. The Corp has received a 1065, K-1 . Butr how to I report all the guaranteed payments , etc. My client received the income via p/r from the corp.

Answer 1

Look at each box.  Box 1 goes to his gross receipts line on the 1120.  Everything else goes to the the line with the same character.  Interest to interest, etc.

Are you absolutely certain that this is a C corp?  He did pay himself a bigggg salary, right?  The tax rate on a personal services C corp is 35%!  And that's double taxed as any further distributions get taxed again as dividends.