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manny210
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- Posted Your prompt response is GREATLY appreciated. God Bless! on Business & farm. June 3, 2019 11:47 AM
- Posted Where do I add information for a 1099-MISC on Form 1120S on TurboTax Business? on Business & farm. June 3, 2019 11:47 AM
- Posted How do I determine S-corp total assets? on Business & farm. June 1, 2019 11:59 AM
- Posted Re: I am using Turbo Tax Self Employed. Where do I enter my individual 401k contributions? on Get your taxes done using TurboTax. February 24, 2019 9:35 PM
June 3, 2019
11:47 AM
Your prompt response is GREATLY appreciated. God Bless!
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June 3, 2019
11:47 AM
I initially added the information for 1099-MISC for two independent contractors. I see the total on Line 21 of Form 1120S. I now need to add the information for a third independent contractor. I updated the total on line 21 thinking I would be able to bring up the screen to input the information for the third 1099-MISC, but this was not the case. I did that by visiting the section Payments to Independent Contractors (under Compensation and Benefits under the Federal Taxes tab), but it is not giving me the option to pull up the 1099-MISC screen. Please advise. Thanks in advance and God Bless!
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June 1, 2019
11:59 AM
S-corp LLC was established in 2018 for residential real estate investing. It started with cash deposits from both managing members to purchase a single family home in Feb 2018. The property was updated and resold in/around June 2018. Then another property was purchased in December 2018 using profits from the sale of the first property. How do I determine the total assets on Item F of Form 1120S? Thanks in advance & God Bless!
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February 24, 2019
9:35 PM
@HollyP, thanks for the information. This section is where I've been stuck (for a couple of days now). Here is an issue that I am having: I enter the Employer Matching (Profit Sharing) Contributions of $3,825 I then enter my Roth 401k contribution of $18,500 (I have a Roth Solo 401k set up. Also, this is my only 401k contribution for 2018) Now under Less Common Business Situations it shows Self-employed Retirement amount of $315 If I remove the $18,500 the $315 changes back to $3,825 Checking "Maximized Contribution to Individual" shows the following: Roth 401k $18,500 Already contributed $18,500 Maximum Allowed to Qualified Plans $315 Amount to Contribute by Plan Due Date $315 Employer Match $3,825 I had no issues with TT 2016 and 2017 versions when entering this information. Please advice. Thanks and God Bless!
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