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February 12, 2020
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When turbotax for Scorp asks me to indicate my total compensation and wages....do they want me to include my dividend distribution

  • February 12, 2020
  • 1 reply
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    Best answer by Anonymous_

    No, do not distributions in those fields; only enter salary, wages, and benefits.

     

     

     

    Employees

     

    Enter the total salaries, wages and taxable fringe benefits for all employees in the All Other Employees column. This is usually the amount reported as total compensation on the W-2.

    Do not include compensation paid to independent contractors. We ask for independent contractor information later.

     

     

    Officers' and Shareholders' Compensation

     

    Enter officer salary and benefit information in the Officers column.

    If the gross sales for the business are $500,000 or more, we will enter officer information separately.

    Enter salary and benefit information for shareholders that own more than 2% of the corporation in the Shareholders > 2% owners) column. This is usually the amount reported as total compensation on the W-2. Certain fringe benefits paid to these shareholders may receive different tax treatment.

    If the corporation has shareholders that own 2% or less of the corporation's stock, enter the total amount of salaries and benefits paid to these shareholders in the "All Other Employees" column.

    1 reply

    Employee
    February 12, 2020

    No, do not distributions in those fields; only enter salary, wages, and benefits.

     

     

     

    Employees

     

    Enter the total salaries, wages and taxable fringe benefits for all employees in the All Other Employees column. This is usually the amount reported as total compensation on the W-2.

    Do not include compensation paid to independent contractors. We ask for independent contractor information later.

     

     

    Officers' and Shareholders' Compensation

     

    Enter officer salary and benefit information in the Officers column.

    If the gross sales for the business are $500,000 or more, we will enter officer information separately.

    Enter salary and benefit information for shareholders that own more than 2% of the corporation in the Shareholders > 2% owners) column. This is usually the amount reported as total compensation on the W-2. Certain fringe benefits paid to these shareholders may receive different tax treatment.

    If the corporation has shareholders that own 2% or less of the corporation's stock, enter the total amount of salaries and benefits paid to these shareholders in the "All Other Employees" column.