When you go to e-file a completed S-Corp return in TT Business, the program asks three questions that could be interpreted any number of ways. There is no help in the program.
SCENARIO: If you are the sole owner/officer of the S-Corp and you pay yourself a W2 and take no other money or compensation out of the business, what should your answers be to these questions and WHY?
1. Claiming officer compensation? Y or N. Does this mean compensation from W2 forms or are they specifically looking for compensation OTHER than W2?
2. Number of officers with compensation? If you claim YES on Q1, this line requires a numerical response. Again, does this mean compensation from W2 forms or are they specifically looking for compensation OTHER than W2?
3. Number of employee W2's issued? Does this include the W2 for the owner/officers or only employees OTHER than owner/officers?
Thanks! MM
