sjrcpa
Level 15
03-08-2020
09:51 AM
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Then put together the trial balance yourself. Employer payroll taxes get deducted as taxes. IRA goes on the 1040. It is not an S Corp expense. If S Corp funds were used to make the IRA contribution, that is a distribution. Unless you mean SIMPLE IRA which is a different animal.
Read the 1120S instructions. Read the 966 instructions. Find the corresponding state form and read its instructions.
The more I know the more I don’t know.