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With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
With the 7/31 Form 5500 deadline nearing, we've put together a list of resources to help you during this deadline period.
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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
a week ago
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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
Sunday
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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.
Here's wishing you many Happy Returns
