I completed all entries in 2020 TurboTax Business (desktop software). TT indicates I am ready to file. I printed all documents required for submission to IRS. Form 1120-S includes an amount on line 7 (compensation of officer) and indicates I must attach Form 1125-E. However, TT did not generate the Form. Why? Will the IRS reject the e-file I submit via TurboTax software? (Note: I am the only officer and 100% shareholder, with gross sales under $300k.)
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Form 1125-E must be completed and attached to Form 1120, 1120-C, 1120-F, 1120-RIC, 1120-REIT, or 1120S, if the entity has total receipts (defined below) of $500,000 or more, and deducts compensation for officers.
See https://www.irs.gov/instructions/i1125e#idm140008514373824
Form 1125-E must be completed and attached to Form 1120, 1120-C, 1120-F, 1120-RIC, 1120-REIT, or 1120S, if the entity has total receipts (defined below) of $500,000 or more, and deducts compensation for officers.
See https://www.irs.gov/instructions/i1125e#idm140008514373824
Perfect! Many thanks!
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