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jsafonso-turbo
New Member

"my wife has S corp she does her taxes and gets the w2. When i file the joint return do i need to add schedule K1 and w2 it looks like i am double paying "

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"

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Accepted Solutions
TaxGuyBill
Level 9

"my wife has S corp she does her taxes and gets the w2. When i file the joint return do i need to add schedule K1 and w2 it looks like i am double paying "

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).

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1 Reply
TaxGuyBill
Level 9

"my wife has S corp she does her taxes and gets the w2. When i file the joint return do i need to add schedule K1 and w2 it looks like i am double paying "

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).

View solution in original post

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