my wife has S corp she does her taxes and gets the w2. When i file the joint return do i need to add both schedule K1form 1120s and w2? it looks like i am double paying when i include both"
You'll need to sign in or create an account to connect with an expert.
Yes, you enter them both.
The W-2 reports the wages that she received, and the K-1 reports the profit the corporation had (after the wages they paid her, so it is not doubling the wages).
Yes, you enter them both.
The W-2 reports the wages that she received, and the K-1 reports the profit the corporation had (after the wages they paid her, so it is not doubling the wages).
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
obeteta
New Member
Bob in Plano
Level 4
Jama2
Level 1
krien2009
New Member
helloTT102
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.