Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

S-Corp 17d code W 199a W-2 Wages incorrect- it is adding in Cost of Goods cost of labor- does anyone know when this will be corrected?

Chris-Spaethe
Level 1
 
0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Best Answer

Accepted Solutions
Ernie
Level 9

Don't know if they are aware of this specific problem so I will flag it.

View solution in original post

0 Cheers
8 Comments 8
taxiowa
Level 9
Level 9
You can make your own adjustments on the 199 activity worksheet.  I have already had to make adjustments for wages and UBIA.  They also pull custom hire subcontractor expense in at least one case I found and plop it down as wages.
0 Cheers
chris-spaethe1
Level 1
We shouldn't have to make adjustments at all....Proseries should be pulling it correctly
0 Cheers
taxiowa
Level 9
Level 9
Agree.  But that is a valid fix for you and the rest of us who pay attention to what is being pulled into 199A worksheet.
0 Cheers
Ernie
Level 9

Don't know if they are aware of this specific problem so I will flag it.

0 Cheers
Ernie
Level 9
@Ashley at Intuit (aka Henry Jr) @Matt105 is this documented / correct?

Also with the new personal should I be flagging you 2 or someone else?
0 Cheers
chris-spaethe1
Level 1
Yes. It is pulling my clients w-2 wages n the cost of labor under cost of goods this is not correct
0 Cheers
taxiowa
Level 9
Level 9
Some people put a portion of W-2 wages in CGS labor, so it is not exactly incorrect.  Just make adjustment as I previously mentioned and have a good night and tax season.  Be aware of whatever numbers transfer to 199A worksheet.  I have found a couple others, but there is a way to correct them on the worksheet.  And I am always a little worried that Proseries will correct these errors and make my adjustments invalid in an update.  So lets just keep these correctable errors to ourselves.
0 Cheers
accoun5
Level 4
In the Cost of Goods labor screen, there needs to be a separate box to enter contract labor and a separate box to enter W-2 wages so that contract labor is not commingled with W-2 wages for purposes of the Section 199A deduction. Intuit needs to send out a memo about this as it is not obvious.
0 Cheers