Forget what I said in the last response, momentary lapse in memory on how the 8846 credit is calculated.

So when the 8846 credit is deducted from wages as an expense on the S-corp return, is that a deduction from qualified wages for determining ERC?  I'm going with the fact that it has not been specifically mentioned in any of the IRS notices I have seen unless someone has seen something different and not going to deduct it.

Man, after all the IRS notices and such on this subject as new as about 2 weeks ago, my head is spinning.  Took 3 online seminars on this stuff and all 3 were not up to the latest rules and interpretations.  The actual amending the 941's I can put off, but trying to determine the wages used as a business expense for 2020 Fed return so I can get this specific S-Corp filed soon, has been the issue.