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New Member
posted Jun 6, 2019 10:38:34 AM

This is my first business tax year, Can I claim from 940 and 941 on my Schedule C? If so, can step by step instructions be provided??

We opened our business in October, we only submitted one 940 and 941.  I believe these should be deducted on our business taxes but I cannot find where it goes.   I need detailed instructions on where this information should be inputted.

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1 Replies
Expert Alumni
Jun 6, 2019 10:38:36 AM

Yes, on Schedule C you can claim:

  • Federal Unemployment Tax (FUTA) Paid with your Form 940, Line 12 (or Line 6 on Form 940EZ) 

AND 

  • Your Employer Match for Social Security & Medicare Taxes on Form 941 (Half of Line 5e).

To input these expenses, click the Federal Taxes Tab, then Scroll down To "Business Items".  Click Start Next to "Business Income and Expenses (Sch C)".  As you go through the questions and get to Business Expenses, choose "Other Common Business Expenses" then choose "Taxes and Licenses" and click Start.