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As a shareholder in an S corporation, you should pay yourself as any other employee; receive wages and a W-2.
In addition, any earnings that pass through to an S corporation shareholder are not subject to self-employment tax.
As a shareholder in an S corporation, you should pay yourself as any other employee; receive wages and a W-2.
In addition, any earnings that pass through to an S corporation shareholder are not subject to self-employment tax.
No, a shareholder in a corporation does not make you self-employed.
For additional information regarding compensation from an S Corporation where you are a shareholder, please see: IRS: Procedures for Compensation
Please also read these re S Corps:
Do you need to prepare the S corp return? It is not self employment and does not go on Schedule C.
You need Turbo Tax Business.
The small business program (TT Business) is for 1120 Corporation, 1120S Corp, 1065 Partnership or 1041 Estate/Trust returns and will not do your personal 1040 return. It is a separate program from the Desktop Home & Business program or the Online Self Employed version.
Turbo Tax Business is not available to do online or on a Mac. You can buy the Window's version here. And you can have both TT Business and TT Home & Business (or any personal version) installed on your computer at the same time.
https://turbotax.intuit.com/small-business-taxes
Desktop Windows System Requirements
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