S Corp retirement plans

Technical topics regarding tax preparation.
#1
Posts:
8156
Joined:
4-Mar-2018 9:03pm
Location:
The Office
Having a bit of a brain fart.

For SEP IRAs and Solo 401ks established under an S Corp for owner-employees, the ER contribution is deducted on the face of the 1120-S (line 17) and not passed through as a separately stated item on the K-1 as the limitation is driven by the employee's W-2 and not SE income, correct? (this is in contrast to a partnership)

What about pensions, such as cash balance plans? Line 17 as well i presume?
 

#2
sjrcpa  
Posts:
6477
Joined:
23-Apr-2014 5:27pm
Location:
Maryland
You are correct. Employer contribution for any type of S Corp pension plan goes on page 1 of the 1120.
 


Return to Taxation



Who is online

Users browsing this forum: DAJCPA, dave1040, Google [Bot], Google Adsense [Bot], JoJoCPA, Seaside CPA, taxp2345, TheGrog, Wiles, WiscoTax and 181 guests