Ordinary Income/Loss Separately Stated Items (1 of 2) Income is divided between ordinary and separately stated items Separately stated items same as for partnerships plus passive activities and portfolio activities Refer to Form 1120S Schedule k in Appendix B for a complete listing 1111 Ordinary Income/Loss & Separately Stated Items (1 of 2) Income is divided between ordinary and separately stated items Separately stated items same as for partnerships plus passive activities and portfolio activities Refer to Form 1120S Schedule K in Appendix B for a complete listing