I am curious about what happened here because I st...
New Member

Business & farm

I am curious about what happened here because I still have the same question.  How are K1 and W2 distinctly different types of income and what did the 'tax guy' say about them being exactly the same?  Was that an error?  Here is my watered down scenario- 2 person business- one owner/one co-owner, set up as an S Corp, total sales $20000, total expense $13000, BOTH employees got paid $10000 in W2, owner has 98% interest in business while co-owner has 2%.  What am I missing?
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