1125-E Compensation to Officer Form 1120

[Memo74]

I opened a corporation in 2021, I paid myself some money but not through payroll, I want to report this salary on my Form 1040, how can I file this compensation on my form 1040? I cannot file a W-2 form for 2021. But I still want to report this salary on my personal taxes. Please advise. 

[Anonymous_]

You can file a W-2 for 2021. It is late and there will likely be penalties, but it can be done.

[Mike9241]

see a tax pro. not only would you need to file a w-2 but also payroll tax returns which are also late. as per @Anonymous_  salary reported on 1040 needs a w-2. otherwise, the IRS will send you correspondence because it has no w-2 to match to your return.  realize that you can't have a salary without also having social security and medicare taxes deducted from your "paycheck" which would have been reported on payroll tax returns.

You also have a problem if the Corp is on a calendar year. It's late and if  it owes taxes they are also late 

[SweetieJean]

As an aside, you may also have worker's comp, unemployment comp, and employee benefits due.

[Anonymous_]

I agree with @Mike9241 and @SweetieJean.

Particularly, that you should consult with a local tax professional at this point.