Business S Corp Form 1120-S – Salaries and Wages Employee
Wages and salaries paid should be entered on Line 8 within Form 1120-S U.S. Income Tax Return for an S Corporation. Payroll and state taxes paid should be entered on Line 12.
To enter this information in your tax return:
- From within your TaxAct return (Online or Desktop), click Federal, then click Deductions (on smaller devices, click in the top left corner of your screen, then click Federal).
- Click Review next to Salaries and wages, enter your totals in the provided fields, then click Continue.
- Click Review next to Taxes and licenses, then click + Add State Taxes and Licenses to create a new copy of the form or click Edit to review a form already created (desktop program: click Review instead of Edit).
- On the screen titled State Taxes, enter your totals in the provided fields, then click Continue.
- On the screen titled Other Taxes Paid, enter your totals in the provided fields, then click Continue.