Terry O Posted March 13, 2011 Report Posted March 13, 2011 Sole shareholder on K-1 , and is ACTIVE in the auto repair business, cannot efile because the program says he must have self employment to claim SEP. There IS self employment of - -um - -80K+ Am I missing something here? Quote
michaelmars Posted March 13, 2011 Report Posted March 13, 2011 not self employed since s corp isn't subject to fica Quote
LouD Posted March 13, 2011 Report Posted March 13, 2011 SEP contribution and deduction happen at the S-Corp level Quote
Randall Posted March 14, 2011 Report Posted March 14, 2011 SEP contribution and deduction happen at the S-Corp level Then, shareholder must have W-2 wages and employer SEP contribution is deducted at corp level, 1120S. Won't show up on personal return. Quote
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