abctax55
Level 15
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I'm copying the entire post, since the OP is going back in and deleting things.

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Corp is a separate entity.

I am asking how a CPA could put owners comp (paid via check and/or listed as 1099) on line 7 of 1120S of the s-corp and then carrying that over to the Schedule C. 

If the "officer / owner / shareholder" of the s-corp is getting the Schedule C but does not have any other business aside from the S-Corp.  Is the CPA making a mistake in putting this business income on a schedule C? 

It is also possible that an S-Corp has gross revenue from past projects like a film release.  So if there is residual gross income that is

Corp is a separate entity.

I am asking how a CPA could put owners comp (paid via check and/or listed as 1099) on line 7 of 1120S of the s-corp and then carrying that over to the Schedule C. 

If the "officer / owner / shareholder" of the s-corp is getting the Schedule C but does not have any other business aside from the S-Corp.  Is the CPA making a mistake in putting this business income on a schedule C? 

It is also possible that an S-Corp has gross revenue from past projects like a film release.  So if there is residual gross income that is not connected to the current officers / owner/ shareholder's time how is this classified as income?

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not connected to the current officers / owner/ shareholder's time....

So now you are saying there's a change in ownership?

Again, I repeat - you need to find local, professional help.  NOW, before it's too late to try to fix 2020.

 

 

 

 

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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