941 line 2 deferred compensation

USA Discussion in 'General Tax Discussion' started by Dennis G, Jan 12, 2019.

  1. Dennis G

    Dennis G

    Joined:
    Jan 12, 2019
    Messages:
    1
    Likes Received:
    0
    I have a S Corp where I am the lone employee. I have set up a solo 401(k). When filling out the quarterly 941 form do I include on line 2 all wages including the deferred compensation amounts? Do I deduct the deferred compensation from the total wages?
    Thank you for any assistance.
     
    Dennis G, Jan 12, 2019
    #1
    1. Advertisements

  2. Dennis G

    kirby VIP Member

    Joined:
    May 12, 2011
    Messages:
    1,422
    Likes Received:
    197
    Instructions for form 941 say that form 941's wages line must agree to your line 1 of your w2. Since your w2 line 1 will be your wages less the 401k deferral then same goes for form 941
     
    kirby, Jan 12, 2019
    #2
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.