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If I'm paying myself a salary in an S-Corp, do I need to enter value for "Payroll Taxes"?

Forum|Forum|7 years ago
June 6, 2019
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I am a 1 person LLC that files as an S-Corp and pays hisself a salary of $30,000. I submit 941 every quarter with a $7500 wage and $1768.35 withheld. My question is, in TurboTax Business, in Federal Taxes -> Deductions -> Any Payroll Taxes, what would I enter for this value??

TurboTax Business Windows

Best answer by PatriciaV

Yes, payroll taxes paid by an S-Corporation are business deductions and should be reported on Form 1120-S Tax Return for an S Corporation.

Under "Any Payroll Taxes," enter the actual tax withheld from wages and paid to the IRS for the year.

PatriciaVAnswer

Employee

Yes, payroll taxes paid by an S-Corporation are business deductions and should be reported on Form 1120-S Tax Return for an S Corporation.

Under "Any Payroll Taxes," enter the actual tax withheld from wages and paid to the IRS for the year.

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Thank you.