Question

Launched SMLLC in 2018. Upgraded to Home&Biz. Imported 2017 details. Now H&B thinks wife's W-2 info is the LLC. How do I correct this and enter biz expenses? Thx!

Forum|Forum|7 years ago
June 3, 2019
1 reply
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W-2 info showing up as business income and expenses rather than personal income after importing 2017 details. Upgraded from Deluxe to Home and Biz due to launching a single member LLC. I recall that using Deluxe previously, that W-2 info was seen as personal income (wages and salaries, interest and dividends) not business income and expenses. How do I correct where W-2 info is entered/listed and properly enter business expenses so that my Schedule C is accurate?

Thanks!

TurboTax Home & Biz Mac

Carl11_2

Employee

As I'm sure you know, the W-2 is "ONLY" entered in the W-2 section of the program and nowhere else. Now take a look on the W-2 date entry screen where you entered that W-2 information. If the "statutory employee" box is checked, then it's self-employment income. So is that box checked? If so, you will most likely need to create a completely separate SCH C business for that specific W-2 income.