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Business & farm
On Form the 1120S the lines that apply to the officer/owners and what are employee lines.
Line 7 is for officer/owner compensation;
Line 8 is for employee wages;
Line 17 is where any pension, 401k, profit sharing expenses are reported
NOTE: The employees' deduction would not go on this line. The employees' portion is part of their wages.
Line 18 are benefits offered to employees
The rest of the lines pertain to the business as a whole.
March 14, 2022
6:51 PM