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ErinReeceBearCEO
Level 1
August 1, 2022

1120S Return incorrect W-2 Wages

  • August 1, 2022
  • 1 reply
  • 6 views

Hi All! I need help with an 1120S return. 

1 100% shareholder in the S Corp - and they took $36,900 in W-2 salary in 2021 (the business took a $1,700 loss). I entered the W-2 salary amount under officer's compensation on deductions, but the K-1 on QBI Pass-through on the K-2 it says W-2 wages of $85,878. Not sure how to fix?

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    1 reply

    T
    TaxGuyBill
    Level 15
    August 2, 2022

    On the K-2?  Or did you mean on the K-1?

    Were there benefits, such as health insurance, employer retirement plans, etc. that may be adding to it?

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