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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View Lacerte Hot Topics.
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- 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?
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?
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nwempe
Level 3
07-19-2024
11:07 AM
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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.
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George4Tacks
Level 15
07-21-2024
10:01 AM
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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!
