- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
How and Where to enter salary for a >2% shareholder?
Every year I run into the same problem.
Turbotax always doubles the amount shown in salaries and wages paid.
I'm a >2% shareholder, and on the "Enter Salaries and Wages Paid" section I enter the amount I paid myself (which also shows up on my W2) in the first box.
Salaries and Wages: Officers (>2% owners) = $XX,XXX
When I click continue and go back to the step by step instructions it shows my 2022 salaries and wages paid as twice that amount!
Every year this happens, and I can never remember what convoluted technique you have to use to have my correct wages appear in the proper spot (Line 7) on my 1120-S.
Topics:
March 14, 2023
2:13 PM