ERC 1040X

[MGC94]

941 for Q1 2020 line 2 wages $285,760

941 for Q2 2020 line 2 wages $286,825

941 for Q3 2020 line 2 wages $309,900

941 for Q4 2020 line 2 wages $306,055

Qualified wages (and the corresponding credit) for Q1 2020 are by instruction included on the Q2 2020 Form 941-X. A return for Q3 2020 was not prepared because it was not necessary to maximize the 2020 refund claim.  Stated differently, all employees' qualified wages are maxed without having to pull any wages from Q3 2020. There are 21 eligible employees on payroll during 2020, and total 2020 Qualified Wages = $210,000, yielding a credit of $105,000 between the Q2 and Q4 2020 filings. 

941-X Q2 2020 (which includes Q1 2020) 

Line 18a -$17,783.15

Line 23 -$17,783.15

Line 26a -$42,541.85

Line 27 -$60,325.00

Line 30 $100,555.00 

Line 33a $20,095.00 (Q1 2020)

941-X Q4 2020

Line 18a -$18,975.41

Line 23 -$18,975.41

Line 26a -$25,699.59

Line 27 -$44,675

Line 30 $89,350

Can someone please help me with how I am supposed to be amending this return.... I really appreciate it. 

[qbteachmt]

What you are asking about goes on a business return:

Sched C

1120

1120-S

1065

With 21 employees, is this really a 1040 amendment question?

[sjrcpa]

You reduce the 2020 wages expense by the amount of the 2020 ERC.