I am not sure that I agree with the amounts you show to be reported on the 1120S. These amounts should be:
Line 7- Compensation of officers- $48,000
Line 18- Pensions, Profit share, etc- $12,000
Even though the total expense is the same at $60k, the company’s expense is $48k for wages, and $12k in Employer contributions, the reduced amount of Officer Compensation could be deemed insufficient compensation of >2% shareholders.
