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Entering officers salary for an 1120-S return in Lacerte

SOLVEDby Intuit210Updated May 31, 2023

Table of contents:

To enter officers salary for each officer
To enter a total compensation for all officers
How do I trigger the optional Officer Compensation statement that prints as a green link next to Form 1120S, line 7?

To enter officers salary for each officer:

  1. Go to Screen 2, Officer Information.
  2. Enter the Officer Compensation for each officer.

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To enter a total compensation for all officers:

  1. Go to Screen 15, Ordinary Deductions.
  2. Enter the amount in the Compensation of officers [O] override field.

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How do I trigger the optional Officer Compensation statement that prints as a green link next to Form 1120S, line 7?

There are two ways to trigger the optional statement:

  1. Click on Settings on the menu bar.
  2. Choose Options to open the User Options window.
  3. Click on the Tax Return tab.
  4. Scroll to the section titled Federal Tax Options.
  5. Click the down arrow for “State Pptional Officer Comp Stmt” and select Yes.
  6. Click OK to exit

Or:

  1. Open the client file.
  2. At the Table of Contents, click on Screen 2, Officer Compensation.
  3. In the left-hand navigation column, click on the blue Miscellaneous link at the top left.
  4. Enter a in “1=print officer and director schedules, 2=suppress [O].”

The first method will affect all S-Corporation client files.  The second method will affect only the client file in which the entry is made.

TY13 and later: Because Form 1125-E was added for TY13, the decision was made to remove the optional statement from line 7 and to include it on Form 1125-E instead.

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