Terry O Posted March 13, 2011 Report Share 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 Link to comment Share on other sites More sharing options...
michaelmars Posted March 13, 2011 Report Share Posted March 13, 2011 not self employed since s corp isn't subject to fica Quote Link to comment Share on other sites More sharing options...
LouD Posted March 13, 2011 Report Share Posted March 13, 2011 SEP contribution and deduction happen at the S-Corp level Quote Link to comment Share on other sites More sharing options...
Randall Posted March 14, 2011 Report Share 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 Link to comment Share on other sites More sharing options...
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