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January 21, 2024
Question

1120S Social security tip wages

  • January 21, 2024
  • 1 reply
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On a 1120S do I include social security tips in salaries and wages in my deductions?

1 reply

January 21, 2024

Yes, you would use the Box 5 amounts from all W-2s for your employees.  This will include the social security tips and wages and may be the highest number of Boxes 1, 3 and 5.  In other words, rather than adding Boxes 3 and 7, you may choose to use Box 5 instead, which has all of the wage information.

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