I use TurboTax for business, S-Corp/1120S, and I expected the software to ask if the company received any Employee Retention Credits, and it didn't, ugh!
No where does the software even mention the ERC, and I imagine a lot of businesses received it . . . so, where should it be recorded on the 1120S? Do you simply subtract the credits from total wages - under the "Salaries and Wages Paid" section of deductions? My concern here is that the wages reported will be a lot less than the wages reported on the company W-3. I just thought there would be a specific place to record the credit.
Help!
