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I'm completing my business tax return as a S Corp and need…

Hi, I'm completing my...

Hi, I'm completing my business tax return as a S Corp and need some clarification on officer compensation on the 1120s. Do you put what dividend you withdrew?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

Trying to figure out if I put my dividend income withrdawal under compensation for the officer on the 1120s or leave blank since it goes on my 1040.

Accountant's Assistant: Is there anything else important you think the Accountant should know?

No just want to make sure I don't put something in the wrong place.

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Answered in 1 minute by:
3/15/2018
Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified

Hey! I'm Carter, I'm a CPA and can help you.

You put your W-2 wages on that line. The amount you withdrew will go on Schedule K, and M-2 (if you do an M-2)..

Let me know if you want anything else. If not, please leave a rating. Thanks!

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Customer reply replied 1 month ago
Do you know what line on K? When I read the instructions it says wages or any other income for compensation.

16d on Schedule K.

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Customer reply replied 1 month ago
Thanks

No problem. If you need anything else, just let me know. If not, please leave a rating so I get credit with helping you out. Thanks!

Carter McBride
Carter McBride, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 1,032
Experience: Adjunct Professor
Verified
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