where do sep contributions go on 1120s ?

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https://ttlc.intuit.com/community/business-taxes/discussion/how-are-sep-contributions-reported-for-a-s-corporation-what-is-shown-on-the-1120s-form-what-is-shown/00/743194

https://ttlc.intuit.com/community/business-taxes/discussion/how-are-sep-contributions-reported-for-a-s-corporation-what-is-shown-on-the-1120s-form-what-is-shown/00/743194
How are SEP contributions reported for a S Corporation? What is shown …
For a CASH basis S-Corp, are SEP contributions deducted from the 1120S Tax Return in the year the contribution is made, or in the year the contribution is for? For Example, an employee’s W2 shows $20,000 wages for 2019. The SEP contribution of $5,000 or 25% is not made until Feb 2020 after the year ended.

https://ttlc.intuit.com/community/retirement/discussion/i-m-an-s-corp-owner-wanting-to-report-a-sep-ira-contribution-the-self-employed-retirement-plans-page/00/782067

https://ttlc.intuit.com/community/retirement/discussion/i-m-an-s-corp-owner-wanting-to-report-a-sep-ira-contribution-the-self-employed-retirement-plans-page/00/782067
Solved: I’m an S Corp owner wanting to report a SEP IRA contribution …
1 Best answer dmertz Level 15 Except for the purpose of a self-employed health insurance deduction, you are not self-employed, you are an employee of your S-corp. Unless you have a SARSEP plan established before 1997, SEP contributions are employer contributions only.

https://proconnect.intuit.com / community / lacerte-tax-discussions / discussion / how-do-i-enter-a-sep-contribution-for-the-sole-shareholder-of-a / 00 / 42013

https://proconnect.intuit.com / community / lacerte-tax-discussions / discussion / how-do-i-enter-a-sep-contribution-for-the-sole-shareholder-of-a / 00 / 42013
How do I enter a SEP Contribution for the sole shareholder of a S …
The SEPP contribution is done at the S-Corp level, and is based on the W-2 wages. It isn’t done/taken on the F 1040 for the S-Corp W-2 wages, OR the distributions, OR the K-1 flow thru income.

https://www.upcounsel.com/sep-ira-for-s-corp

https://www.upcounsel.com/sep-ira-for-s-corp
SEP IRA for S Corp: Everything You Need to Know – UpCounsel
Updates October 1, 2020: A SEP IRA for S Corp is a type of pension plan that you may be able to set up for your corporation’s employee. What Is SEP? There are many types of retirement plans that employers can choose for their employees, including a Simplified Employer Pension (SEP).

https://www.irs.gov/instructions/i1120s

https://www.irs.gov/instructions/i1120s
Instructions for Form 1120-S (2022) | Internal Revenue Service
See Schedule K-2 (Form 1120-S), Part II, Section 2, line 45, column (g). Do not reduce the corporation’s deduction for social security and Medicare taxes by the nonrefundable and refundable portions of the FFCRA and ARP credits for qualified sick and family leave wages claimed on its employment tax returns.

https://ttlc.intuit.com/community/business-taxes/discussion/on-what-line-item-of-1120s-do-i-show-employee-401k-and-employer-sep-ira-contribution/00/1763758

https://ttlc.intuit.com/community/business-taxes/discussion/on-what-line-item-of-1120s-do-i-show-employee-401k-and-employer-sep-ira-contribution/00/1763758
on what line item of 1120s do i show employee 401k and employer SEP IRA …
what line item in 1120S do i show employee 401k and employer SEP IRA contribution? Also on line item 7 i.e compensation of officer do i show a wage of $65,000 or $84500 ($65000 + $19500 since the 401k is employee contribution) TurboTax Business Windows posted December 29, 2020 10:24 AM last updated December 29, 2020 10:24 AM 0 7 1,186 Reply

https://www.irs.gov/retirement-plans/plan-sponsor/simplified-employee-pension-plan-sep

https://www.irs.gov/retirement-plans/plan-sponsor/simplified-employee-pension-plan-sep
Simplified Employee Pension Plan (SEP) | Internal Revenue Service
21 déc. 2022Retirement Plans Simplified Employee Pension Plan (SEP) A SEP plan allows employers to contribute to traditional IRAs (SEP-IRAs) set up for employees. A business of any size, even self-employed, can establish a SEP. Choose a SEP Plan Establish a SEP Plan Participate in a SEP Plan Operate and Maintain a Plan Correct Plan Errors

https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-to-set-up-sep-ira-contribution-what-expense-account-do-i-use/00/183152

https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/how-to-set-up-sep-ira-contribution-what-expense-account-do-i-use/00/183152
How to set up SEP IRA contribution. What expense account do I use?
How to set up SEP IRA contribution. What expense account do I use? My company is a LLC taxed as an S-Corp. I have just established a SEP IRA. I am the only owner and have my wife on payroll as an employee. The company will be makeing all of the contributions to the SEP.

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-seps

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-seps
Retirement Plans FAQs regarding SEPs | Internal Revenue Service
The contributions you make to each employee’s SEP-IRA each year cannot exceed the lesser of: 25% of compensation, or. $66,000 for 2023 ($61,000 for 2022; $58,000 for 2021; $57,000 for 2020 and subject to annual cost-of-living adjustments for later years). These limits apply to contributions you make for your employees to all defined …

https://www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-contributions-s-corporation

https://www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-contributions-s-corporation
Retirement Plan FAQs Regarding Contributions – S Corporation
3 mai 2023No. Contributions to a retirement plan can only be made from compensation, which, in the case of a self-employed individual, is earned income. Distributions you receive as a shareholder of an S corporation do not constitute earned income for retirement plan purposes (see IRC Sections 401 (c) (1) and 1402 (a) (2) ). 401 (k) Plan . lesoutrali bot