Potential bug...
I just bought TurboTax Business and am filing form 1120S.
I offer 401k to my employees and paid $500 for the servicing/administration/setup of the 401k. I do not offer matching to employees.
* I filled line 17 on my 1120s with 0 => I did not match/contribute outside of employees contribution.
* I claimed Small Employer Pension Plan Startup Costs for half of the $500 per instructions ($250) as this was my first year offering 401k.
However when I run "Error Check" on TurboTax, it seems it files the $250 under 1120s line 17 as a -. So in the "worksheet" it does 0-250=-250. Which is an error.
Pretty much TurboTax assumes that any Credit from Form 8881 MUST BE also claimed under line 17. However that's just not true, as line 17 holds only Employer Contribution and NOT Plan Administration Costs...
HELP!
