topic How do I report 1120-S K-1 income as self-employment income? in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729915#M614079 There were no reasonable wages taken from the S-Corp to be taxed for social security and&nbsp;&nbsp;medicare. Thu, 08 Oct 2020 15:20:32 GMT anneh-hlwcpas-co 2020-10-08T15:20:32Z How do I report 1120-S K-1 income as self-employment income? https://ttlc.intuit.com/community/taxes/discussion/how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729915#M614079 There were no reasonable wages taken from the S-Corp to be taxed for social security and&nbsp;&nbsp;medicare. Thu, 08 Oct 2020 15:20:32 GMT https://ttlc.intuit.com/community/taxes/discussion/how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729915#M614079 anneh-hlwcpas-co 2020-10-08T15:20:32Z Re: How do I report 1120-S K-1 income as self-employment income? https://ttlc.intuit.com/community/taxes/discussion/re-how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729951#M614087 <P><STRONG><EM>"How do I report 1120-S K-1 income as self-employment income?"</EM></STRONG></P> <P>&nbsp;</P> <P>You simply cannot report K-1 (1120-S) income as self-employment income.&nbsp;</P> <P>&nbsp;</P> <P>Shareholders of an S corporation are not self-employed; they are employees of the corporation if they perform services for the corporation on a regular and continuous basis.</P> <P>&nbsp;</P> <P>If you did not pay yourself a reasonable salary, you might want to consult, in person, with a tax professional.</P> Thu, 08 Oct 2020 16:23:23 GMT https://ttlc.intuit.com/community/taxes/discussion/re-how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729951#M614087 tagteam 2020-10-08T16:23:23Z Re: How do I report 1120-S K-1 income as self-employment income? https://ttlc.intuit.com/community/taxes/discussion/re-how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729997#M614103 <P>hopefully, the S-Corp return was filed by its due date of 9/15/2020. if not you face about a $200 penalty for late filing.&nbsp;</P> Thu, 08 Oct 2020 17:57:42 GMT https://ttlc.intuit.com/community/taxes/discussion/re-how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729997#M614103 Anonymous 2020-10-08T17:57:42Z
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topic How do I report 1120-S K-1 income as self-employment income? in Get your taxes done using TurboTax
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https://ttlc.intuit.com/community/taxes/discussion/how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729915#M614079
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There were no reasonable wages taken from the S-Corp to be taxed for social security and&nbsp;&nbsp;medicare.
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How do I report 1120-S K-1 income as self-employment income?
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There were no reasonable wages taken from the S-Corp to be taxed for social security and&nbsp;&nbsp;medicare.
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Re: How do I report 1120-S K-1 income as self-employment income?
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<P><STRONG><EM>"How do I report 1120-S K-1 income as self-employment income?"</EM></STRONG></P> <P>&nbsp;</P> <P>You simply cannot report K-1 (1120-S) income as self-employment income.&nbsp;</P> <P>&nbsp;</P> <P>Shareholders of an S corporation are not self-employed; they are employees of the corporation if they perform services for the corporation on a regular and continuous basis.</P> <P>&nbsp;</P> <P>If you did not pay yourself a reasonable salary, you might want to consult, in person, with a tax professional.</P>
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Re: How do I report 1120-S K-1 income as self-employment income?
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https://ttlc.intuit.com/community/taxes/discussion/re-how-do-i-report-1120-s-k-1-income-as-self-employment-income/01/1729997#M614103
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<P>hopefully, the S-Corp return was filed by its due date of 9/15/2020. if not you face about a $200 penalty for late filing.&nbsp;</P>
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