1120-US: Entering shareholder wages used to calculate the Section 179 business income limitation (FAQ)

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Question

Where do I enter shareholder wages used to calculate the Section 179 business income limitation?

Answer

UltraTax CS transfers the shareholder’s demographic information to the statement dialog for the Officer’s compensation field on Screen Inc when you mark the Shareholder is an officer field in the View > Shareholder Information > Other Info tab. Enter the shareholder’s wages in this statement dialog. UltraTax CS includes the wages of the designated shareholders in the section 179 business income calculation. If not all shareholders are officers of the S Corporation, enter the total shareholder employee wages in the Total shareholder employee wages (S Corp/Force) field on Screen OthAsset.

Related topic: 1120-US: Form 4562 - depreciation and amortization FAQs

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