How do I enter employee wages on Form 1120-S into TurboTax Live Assisted Business?
by TurboTax•1• Updated 1 week ago
- Navigate to Federal and select Deductions
- On the Your Deductions screen, locate the section Compensation and Benefits and then select Start/Update beside Salaries and wages paid.
- On the screen Enter Salaries and Wages Paid, enter your employee's wages into the corresponding boxes and select Continue
What if I don’t see the box to enter employee wages.
If you did not answer “Yes” when asked if you pay any shareholders, employees or contractors, you will not be presented with the section to enter employee wages, and you won’t have the option to go back and change your selection via the prompts. To make this revision, you will have to make your changes manually in your Tax Form.
- Navigate to Tax Tools and select Forms
- Search for Form 1120-S and select Form 1120S p1-2: Income Tax Return for an S Corporation
- On Page 1 of the form, locate Line 7a and enter the employee wages
- Select Close Forms
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