My business obtained S-corp status this year. I typically do the W-2s myself. Should I switch to form 1120 for my employees?

Are they employees, or owners? If they're employees, W2 as I understand it. I am an owner in an employee owned s corp. I get a W2 for wages and a K1 for ownership income.

Thank you.

My question is the type of W2 for employees. In the past I selected form "1065" for W2s, but now I wonder if I should use the 1120-S type for W2 for employees.


I am not looking forward to the K-1 process, at least the CPA will handle it.

1065 is a partnership return and the K-1s are different than the K-1s for an 1120S. Not sure what you're selecting here, but I would assume you want to be consistent with the s-corp return you're filing. Was the S election effective at the beginning of the year?

OldArmyBrent said:

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1065 is a partnership return and the K-1s are different than the K-1s for an 1120S. Not sure what you're selecting here, but I would assume you want to be consistent with the s-corp return you're filing. Was the S election effective at the beginning of the year?

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Yes for 2019 it was effective at the beginning of the year. I should have done it in 2018, but didn't file the election in time.

This is a question pertaining to the W-2 that I am providing for my employees. My CPA will do the K-1 for me, but for my employees, I think I am going to select the 1120 / 1120s option rather than the 1065 option.

Im not sure what he/she is referring to either, but if it asks you 1065 or 1120S, then chose 1120s

30wedge said:

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SmallBusiness said:

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OldArmyBrent said:

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1065 is a partnership return and the K-1s are different than the K-1s for an 1120S. Not sure what you're selecting here, but I would assume you want to be consistent with the s-corp return you're filing. Was the S election effective at the beginning of the year?

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Yes for 2019 it was effective at the beginning of the year. I should have done it in 2018, but didn't file the election in time.

This is a question pertaining to the W-2 that I am providing for my employees. My CPA will do the K-1 for me, but for my employees, I think I am going to select the 1120 / 1120s option rather than the 1065 option.

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Maybe I am just dense (very possible) but I don't understand what you are meaning when you say "select." A W-2 is a W-2, whether issued by a partnership, C corp, or S corp.

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This. It's my understanding that the 1065 and 1120s refer to the business's filing. The W2 for the employee is the same W2 regardless of what kind of entity files it.

I did notice that 1120s and 1065s are asking how many W2s were filed in the tax year as a fraud security measure in e-filing. MAYBE it has something to do with that when W2s are electronically filed?

but if you are just filling out a W2 by hand, then that information is not necessary.

Thank you all! This was helpful.

It sounds like it is likely irrelevant for the creation of the W-2. Perhaps the software asks it because it matters when filing them with the IRS.