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Level 2
posted Jun 4, 2019 11:28:48 PM

Which amount to enter from employees' W-2 when filing deductions for an S-Corp? Box 1 or Box 5?

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1 Best answer
Expert Alumni
Jun 4, 2019 11:28:49 PM

Total employees' wages are reported in box 5 of forms W-2. They are deducted as wages in an S-Corp tax return.

The employer's share of FICA taxes are deducted as taxes by the S-Corp.

1 Replies
Expert Alumni
Jun 4, 2019 11:28:49 PM

Total employees' wages are reported in box 5 of forms W-2. They are deducted as wages in an S-Corp tax return.

The employer's share of FICA taxes are deducted as taxes by the S-Corp.