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Level 4
March 12, 2023
Solved

Where do I enter the Company share of Simple IRA for owner on 1120S

  • March 12, 2023
  • 2 replies
  • 30 views

This is rather frustrating since every search leads me to a search for Adjustments to Income (which does not pop in Proconnect search field) or seems totally unrelated. I need to know where to enter the amount paid by the Company to the Owner's Simple IRA. Yes, he is a W2 employee and yes the amounts withheld were properly reported on the W2 - I just need to get it reported on the 1120S and K1 and I am NOT finding the right road map.

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Best answer by sjrcpa

It's pension expense on the 1120S.

2 replies

Level 15
March 12, 2023
cdicfoAuthor
Level 4
March 12, 2023

I  know what the tax rules are - I need to know where in the Proconnect program I enter the company match. All of the instruction say to look for Adjustments to Income and nothing comes up with a search in the input search field. I cannot find the input field. 

sjrcpa
sjrcpaAnswer
Level 15
March 12, 2023

It's pension expense on the 1120S.

The more I know the more I don’t know.
cdicfoAuthor
Level 4
March 13, 2023

Been there, but searching for "Adjustments to income" in Proconnect search fields yields no results. I'm going to search in the IRS 1120S instructions and very where it is supposed to land and work backwards into the Proconnect nuance. If it's pension - I'm good, but I thought I should be sure. 

sjrcpa
Level 15
March 13, 2023

There is no "Adjustments to Income" on an 1120S.

The more I know the more I don’t know.