Officer Compensation on 1120.

USA Discussion in 'Businesses / Corporations' started by bizinfo, Aug 20, 2018.

  1. bizinfo

    bizinfo

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    Does the Officer Compensation on line 12 of form 1120 get carried forward to the individual's form 1040 as income???
     
    bizinfo, Aug 20, 2018
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  2. bizinfo

    kirby VIP Member

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    You could reconcile the two amounts but they typically will not agree perfectly. For example, the 1120 can record salary expense to employee #1 in the amount of $X. But if employee #1 defers income through a 401K program then employee #1's 1040 wages amount will not agree to the 1120, but could be reconciled.
     
    kirby, Aug 20, 2018
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