No, report 100% of the payroll taxes that were paid by the S-Corp under that topic under Deductions in the Step-by-Step interview. This amount is included on Line 12 of Form 1120S. Other taxes may be included in that total amount that appears on Line 12. You can see the complete calculation in Forms Mode under Line 11 "Taxes and Licenses Smart Worksheet."
We highly recommend that you make all entries from the interview screens so the amounts are recorded on the proper forms. Direct entry in the forms may invalidate the TurboTax Accuracy Guarantee and could invalidate the return for e-filing.
Form 1120S Line 7 reports Compensation of Officers only. No payroll taxes should be included in this amount.
Form 1120S Line 17 reports pension plans, which may include profit-sharing plans. This line does not include distributions to the shareholders.
Distributions (cash or property) are entered from the main screens under Business Info >> Shareholder Information >> Done Entering Shareholders >> 20XX Distributions to Shareholders. The amount you enter under Cash or Property is allocated to the shareholders according to their ownership percentages. The allocated distributions appear on Schedule K-1 Box 16 Code D.
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