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16986: 1120S - Entering Officer Information - Form 1125-E


1120S Sub S Corporate

Where do I enter officer information for Form 1120-S? Why is Form 1125-E not being produced? 

 

Starting in Drake20, the K1 and E screens have been combined as the K1E screen to prevent duplicate data entry and results. For officers that are not shareholders, check the box Reporting 1125-E information only at the top right of the K1E screen (1). The Shareholder, Officer information section (2), Signature information (3), and Form 1125-E Officer Information (4) should be completed as applicable for all shareholders and officers:

 

In Drake17-Drake19, the information for an officer that is also a shareholder may be entered on the K1 screen without the need for a separate screen E. Simply fill out the K1 screen with the demographic information for the shareholder and then complete the Officer Information section to have the shareholder recorded as an officer on Form 1125-E (if required).

 

Screen E for Form 1125-E is still available for information on officers who are NOT shareholders.

Note: In Drake19 and prior, screen E for Form 1125-E is available for information on officers who are NOT shareholders. Do not duplicate information on screen E for shareholder officers that are entered on screen K1. This will cause duplicate entries on Form 1125-E in view.  

In Drake16 and prior, only screen E, Officer Information, can be used to enter officer data. 

Notes:
Employment Dates - If an entry is made in the Date employed in the position to field (indicating that the officer is no longer employed with the corporation), the program will not update the officer’s information to the next year.

Ownership and Participation - To enter the ownership percentage for the officer, enter the percentage as a whole number. For example, enter 40 to indicate 40 percent.

Generating Form 1125-E 

Form 1125-E, Compensation of Officers is not generated automatically with the return unless required. Total receipts (line 1a, plus lines 4 through 10) on Form 1120-S must be $500,000 or more.

To force the software to print Form 1125-E, on the PRNT screen (Miscellaneous tab) select Force Form 1125-E, Officer Compensation at the top left under Items to Print.

Screens E and/or K1 compensation amount totals are calculated and carried to Form 1120-S, line 7.

The total of officer compensation can be entered in the Officer Compensation override field on the DED screen (generally used when Form 1125-E is not required). An entry in that field overrides any calculations from screen E, changing the 1120, but not Form 1125-E.


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