What line on a s-corp tax return shows money back or owed?

Question

What line on a s-corp tax return shows money back or owed?

Answer 1

Is this a trick question?  As you may know, S-Corporations are "Pass-through" entities that are not taxed.  The profits or loss pass through to the shareholders who report it on their individual returns.

Answer 2

Although a S-Corp is a pass-through entity it is still possible for the S-Corp to either owe tax or have a refund.

If you owe tax that is line 25. A refund is shown on line 26 (both are the 2007 forms).

Hope this helps.