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Get your taxes done using TurboTax
You create a W-2 for yourself since you are technically an employee of the corporation (hopefully, you have been paying yourself a salary and withholding federal and, possibly state tax).
The income is transferred when you enter the information from your K-1 into your individual income tax return (a K-1 will be generated in the process of preparing the 1120-S).
March 8, 2021
10:54 AM