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Why is Line 7 on my 1120S showing a figure. I don't have any compensation and it shows compensation. How do I get rid of this?

I don't make $500,000.00 or more.  Line 7 should be a zero, but it is showing a figure.  How do I get rid of this?

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1 Reply
FaithY
Expert Alumni

Why is Line 7 on my 1120S showing a figure. I don't have any compensation and it shows compensation. How do I get rid of this?

I suggest going to the Deductions section of TurboTax to see if there is an amount entered in the Salaries and wages paid section to try to locate the source of the compensation on Form 1120S Line 7. Once you locate the source you can delete the entry.

You can also go to Forms mode in TurboTax and selecting Form 1120S under Forms in My Return. Right click on Form 1120S Line 7 amount and click Data Source. A box will pop up that will give you the source of the entry on Line 7. You can also right click the amount on Line 7 and click QuickZoom. 

Click my screenshots below for visual references.

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