Clarification on S corp

[oceanlovin'ea]

When we add the s corp shareholder insurance to the W-2 wages, on page 1 of the 1120S, is the amount in officer's compensation the actual amount of wages or does it include the insurance?

If it is not included in Line 7, does it just go on line 19 with other deductions as medical insurance?

This is the first time I have had a s corp that paid the health insurance for the shareholder and just want to make sure that I get everything on the right lines.

Thanks

Linda F

[Joe Btfsplk]

S Corp

Wages do not include allowable benefits paid in behalf of an employee--including S Corp shareholder employees.

[rosieea]

When we add the s corp shareholder insurance to the W-2 wages, on page 1 of the 1120S, is the amount in officer's compensation the actual amount of wages or does it include the insurance?

If it is not included in Line 7, does it just go on line 19 with other deductions as medical insurance?

This is the first time I have had a s corp that paid the health insurance for the shareholder and just want to make sure that I get everything on the right lines.

Thanks

Linda F

If the insurance premiums were included in the W-2 wages of the shareholder, as they should have been, then they are included in line 7, not line 19.

[KJ Judd]

I've always matched line 7, comp of officers, to the amount reported in Box 1 of the W-2s. I figure if the IRS ever matches these they should be the same.

[dsi]

Line 1 of the W2 (which includes the insurance) does get reported on the 1120S as officer wages.

[oceanlovin'ea]

Thanks

everyone.

I thought that was the way it should be but just wanted reassurance.

Thanks.

Linda F