I am filing for my S-corp, and I need to show earnings. I did not list a salary for myself, so now if I do so I think I will have penalties (?) The total is about 10,000. I need to either list it as salary and pay the fines or fill out an 1120s and call it a disbursement. Will the penalties hit me worse than the tax on the amount?
Secondly, if I do the 1120s, how can I file it? I cannot find a way to do so within turbotax business.
Thank you for your help
