| ABOUT THIS FORM | |||||||||||||||||
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| While Form 1120S above is used to report tax information to the IRS at the federal level, the IT-20S is an information return also used to report tax information only to the state. Filed with the Indiana Department of Revenue, the IT-20S begins with federal income from the 1120S above. This income is then adjusted for any Indiana modifications. All income is then taxed on the shareholder's individual return. | |||||||||||||||||