On 1120S: How do I segregate wages, health care coverage, taxes, retirement....? Line 7 Comp of Officers: What goes there? Is it gross pay, OR is it gross pay subtract Cafe 125 and 401K, OR is Gross pay subtract Cafe 125. Line 8 Salaries and Wages: Same question Line 12 taxes and licenses: Total FICA taxes paid by employer for all employees including shareholders? (FUTA etc...) Line 17 pension and profit sharing: ? Line 18 Employee Benefits: Employer matching 401k? Line 19: Employer cost of Health insurance? I know a lot else goes there but specifically concerned about health care coverage.   

I am working on a 1041 and I am confused on how to handle selling expenses of a house sold after death by the estate. It was sold shortly after death so there would have be no appreciation. According to the IRS, “Selling expenses (such as broker fees, survey fees, or transfer steps) are deductible if the sale is necessary in order to pay debts, expenses, administration or taxes, to preserve the estate, or to effect distribution.”  The estate has sufficient assets to pay expenses, but would the selling expenses still be deductible since they affected distribution?   Also below is a sample settlement statement. Would the Sales price and Cost be $307,803.34 and the expenses I can deduct be the Brokers commission of $20,220? I can not find anything in the code or a pub that specifically says what I can do. Is there an IRC or pub that discusses this circumstance?     Item   DR  CR Sales Price        337,000.00 Brokers Commissions        20,200.00   Estimate final bill to City              400.00   Estimated final bill to utilities              875.00   Pro rata taxes              245.05   Escrow fees              895.05   Title Charges Home owners policy          1,184.56   County Transfer Tax          5,397.00   Due to Seller      307,803.34           Total      337,000.00    337,000.00            

Hi, An estate sold a house two months after the death of the decedent for a total of 300K including all fees.  There was no appraisal done.  Would the 20K in brokers fees be considered a capital loss?  

Hi, I am working on a 1041 for an estate and I need some training on how to do it in ProConnect. Any recommendations on videos, other materials, or if someone can walk me through it?  It is a pretty simple return with only CD interest and a house sale with no Capital Gains but it is my first one so I could use some guidence. Thank you, Andrew