Yes to the previous answer...but in addition, you don't report your W-2 income on Schedule C, you report it as W-2 income.
In fact, you don't even report a Schedule C at all.
There are some self-employment benefits that flow from the 1120S to you through the K-1, but there is no Schedule C involved (think: self-employed health insurance deduction).
See this TurboTax discussion.
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