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Terry53029
Level 14
Level 14

On owners 1040, not on 1120 all s corp owners should have a W2, and possibly a K1 

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Thanks

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Terry53029
Level 14
Level 14

Glad to help

qbteachmt
Level 15

Just further clarification: "reported on a W2 with his SS"

Both of these are Personal, both are listed on the 1040, and they go on Separate lines.

The 1120S is for all business activities. Whoever prepares the 1120S is supposed to also issue a K-1 to each shareholder.

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