How do I get all the income and withholding to flow out to shareholders on a NM return? I think I should see all of the withholding on line 17, S-Corp-1?

nwempe · ‎07-19-2024

I have input all withholding on Scr. 47.254 (FORM 1099-MISC/NEC for e-file) returns but it doesn't flow through. I also think my page 1 should just show the Franchise tax due and not include any taxable income for the S Corp itself.

George4Tacks · ‎07-21-2024

Income does NOT flow from 1099 input in any of the modules of Lacerte. The input is only there to allocate the withholding to the right income category.

I have no knowledge about how state withholding would affect a NM return. You may have to do specific allocation.

Answers are easy. Questions are hard!