justelectronics e
Level 1
03-14-2020
12:01 PM
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Best Answer Click here
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Terry53029
Level 14
03-14-2020
12:11 PM
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On owners 1040, not on 1120 all s corp owners should have a W2, and possibly a K1
justelectronics e
Level 1
03-14-2020
12:18 PM
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Thanks
Terry53029
Level 14
03-14-2020
12:22 PM
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Glad to help
qbteachmt
Level 15
03-14-2020
12:32 PM
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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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