Scorp pass thru to personal 1040

[Jhawkmde87]

I am the sole employee and officer of my S corp. How do I take any S corp income after expenses, my salary and dividend distribution and carry it over to my personal taxes. 

In the past I have hired a CPA to do my taxes and they have said this is what they did. This is my first year to attempt to do my own S corp taxes, and so I understand the concept, but not the mechanics of how this is done......ie, what line on my 1120s will show income left over after expenses and salary/dividend distribution ? And what line is that number placed on my 1040 form. 

[Irene2805]

You first have to do the tax return for your S-Corp (1120S).  Part of the S-Corp return is a Form K-1, which contains all the information needed for the shareholder(s) to include on their individual return.  TurboTax automatically prepares the K-1.

Once you have the K-1 from your S-Corp return, enter that into your personal return.

For a S-Corporation return (1120S)  you will need TurboTax Business. TurboTax will take you through an interview to prepare the return, similar to the personal (1040) products.  You can visit the following link to purchase the program: TurboTax Business