Thank you for your response. I've tried to do this exactly as you suggested, but I believe that there is a bug in TurboTax Business that is causing this not to work. There seems to be a conflict in TurboTax Business between entering data into the step-by-step and entering data into the forms. The step-by-step seems to be overriding the data entered directly into the forms or vice-versa.
- In the step-by-step
- When I put in the amount of insurance under deductions-insurance, health, and other benefits, TurboTax forces the amount I entered there to zero and behind the scenes adds it to the Compensation and Benefits-Salary and Wages paid field.
- In the Salary and Wages paid field, the amount I entered is overridden and replaced by the total of salary and wages and health insurance benefits.
- If I then look at this information in the forms,
- On form 1120S line 18 (Employee Benefits Programs) is blank and is highlighted in red as missing data.
- When I enter the correct data into Form 1120S line 18, it shows correctly there and the error flag goes away but the amount is double-counted in the income statement (once on line 18 and again in the salary.
- If I then go to Form 1125-E, I notice that the salary there has been overridden by the step-by-step and is blank. If I enter the correct amount there, it fixes the double-counting problem and the income statement comes out correctly.
My conclusion from all of this is you have to avoid entering data into the step-by-step process and directly enter it into the forms or it will get really messed up in TurboTax Business. This seems to be a bug in TurboTax Business.
