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Switched from Home&Business to Business: where do I insert my employee wages and other deductions?
I recently switched my single member LLC being taxed as a sole proprietor to an S-corp. So I had to switch to TT-Business.
I pay myself as an employee and gave myself a W-2. On salary and wages there are 3 fields, Officers, Sharholders (>2% owners), and "All other Employees". I am an officer and an employee. Where do I put my employee wages?
Also, in TT-home and business, I use my home office as a deduction(depreciation) and home office expense like(partial electrcity, water, internet, etc.) . How do I deduct that from TT-B?
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‎April 4, 2021
6:50 PM