ProConnect Tax Idea Exchange

have a field that will calculate SEP contributions for employees and flow through to the form 1120S. Wages for owners and non-owner employees could be entered, then ProConnect could calculate and fill the amount on the form as it does for Schedule C filers on the individual return.

Status:

Vote now if this is a good idea

Comments

Level 15

How hard is it to multiply eligible wages by X%?

Level 2

It's not that hard. It's also not hard to have the program do some of the math for us like it does in the individual returns.

Thanx for being such a supportive member of this community.

Level 15

The SEP calculation is more complicated for a self-employed person.

Level 2

I realize that. And having it done in the tax software is helpful for having a single point of truth for business returns is also easier and efficient.