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Question

on my business taxes, on line 12 compensation to officers which is schedule E. where do report this income on my personal tax sheet?

Submitted: 170 days and 23 hours ago.
Category: Tax
Value: $9
Status: CLOSED

Accepted Answer

I guess that you are filing the form 1120 - http://www.irs.gov/pub/irs-pdf/f1120.pdf - please verify.

 

Compensation of Officers

should be paid as wages and reported to you on W-2 form.

So - on your personal tax return - form 1040 - it will be reported on the line 7 - http://www.irs.gov/pub/irs-pdf/f1040.pdf

 

Let me know if you need any help.

 

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Expert: LEV
Pos. Feedback: 99.3 %
Accepts: 
Answered: 6/4/2009

Tax Preparer

Taxes, Immigration, Labor Relations

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