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Highest Paid Employees Officer

Forum|Forum|6 years ago
December 7, 2019
6 replies
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Lacerte Tax

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Best answer by itonewbie

Screens 38.2 and 38.3 are where you'd make your input. Individuals reported on these screens will flow through to Part VII and not counted as voting members.

Individuals you enter on Screen 2 whose income should be input on Screen 38.1, on the other hand, will be counted as voting members. If you need to override the count, you will need to enter your own number on Screen 6 on the line for "Number of voting members of governing body (1a) [O]".

itonewbieAnswer

Level 15

Screens 38.2 and 38.3 are where you'd make your input. Individuals reported on these screens will flow through to Part VII and not counted as voting members.

Individuals you enter on Screen 2 whose income should be input on Screen 38.1, on the other hand, will be counted as voting members. If you need to override the count, you will need to enter your own number on Screen 6 on the line for "Number of voting members of governing body (1a) [O]".

---------------------------------------------------------------------------------Still an AllStar

K

kendallfinancialAuthor

Level 3

Thank you. Do you agree that on Part VII, a Highly Compensated Employee (I entered exactly as you described) should also not be having the OFFICER box checked, because they are not an Individual Trustee? I see the Column C says you can not mark more than one BOX unless they are an OFFICER AND and INDIVIDUAL TRUSTEE.

abctax55

Level 15

Huh?

Make me an offer

HumanKind... Be Both

K

kendallfinancialAuthor

Level 3

Me again. So frustrated! I have a Employee paid over $100K so must be listed on Section VII of 990. However IRS says 'treat as Officer the following persons, regardless of their titles". "Top financial officer". This Employee is not a voting Officer. How do I show a Highest Paid Employee an Officer, without it counting her as a Voting Member of the board?

itonewbie

Level 15

Ah, Jeopardy again... Let me try:

What is a F.1125-E for?

---------------------------------------------------------------------------------Still an AllStar

IRonMaN

Level 15

$1,222,693.22

Slava Ukraini!

itonewbie

Level 15

I could have given you a no vote. The $0.22 won't get entered. We like round clean numbers.

---------------------------------------------------------------------------------Still an AllStar

itonewbie

Level 15

OK, another one...

How to make an input for and generate F.1125-E: https://accountants-community.intuit.com/articles/1857558-entering-corporate-officers-compensation

---------------------------------------------------------------------------------Still an AllStar

K

kendallfinancialAuthor

Level 3

No, I'm looking at how to make one of the "Compensation of Five Highest Paid Employees" on Form 990, Part VII show as an Officer, without Lacerte making them a Voting Member of the board (Part I, Line 3)

abctax55

Level 15

I love Jeopardy - I even get some of the answers right, occasionally

What is F 990-EZ, Part IV ?

HumanKind... Be Both

itonewbie

Level 15

Talking about Jeopardy, it's sad to hear that Alex Trebek had a relapse and has decided to stop his chemo. The show won't be the same without him...

---------------------------------------------------------------------------------Still an AllStar

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