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03-14-2019
02:19 PM
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S corporations that have less than $500,000 in total receipts. When I record on Form 1120S Smart Worksheet Line B for the shareholder compensation not on Form 1125-E, ProSeries does not show a deduction the shareholder compensation. Line 21 Ordinary Business Income does not reflect the shareholder/officer compensation. For ProSeries to reflect compensation on the correct line, I must put the compensation on Line 7 of the 1120S that is for Form 1125-E and complete Form 1125-E when not required to do so. Why? Is this an upcoming software fix?
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