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Covid/Corona payroll tax credit for S corp

Where do I enter the payroll tax credit for Scorp in form 1120S? 

After much research I found its line 5 on the form 1120s but do i need  to attach anything. can’t  find information on turbotax. 

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2 Replies
ThomasM125
Expert Alumni

Covid/Corona payroll tax credit for S corp

The payroll tax credits are claimed on your payroll tax return form 941.

 

They should be reported as a reduction of your payroll taxes, which are entered on line 12 of your form 1120-S.

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Covid/Corona payroll tax credit for S corp

Thanks for your reply. Wanted to clarify what reduction meant? 
let’s say that payroll taxes and license in line 12 is amount X.  
let's say the FFCRA ( corona) sick and family leave wages is amount Y 

Should line 12 =X minus Y amount. 
Also should any changes be done to line 5 for this.

 Thanks in advance 

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