What is the best way to input income from an S corporation?
I've properly input all my financial data to accurately reflect my circumstances - except I cannot figure out one thing. What is the best way to model a recurring income stream from an S corporation?
Neither the "Employee Wages" nor the "Self-Employment Earnings" on the "Earnings" tab would be appropriate because those cases do not accurately reflect how taxes are calculated on that income. Specifically, income from pass-through entities (e.g. S corporation) generally is subject to state and federal income taxes, but it is not subject to FICA and Medicare taxes.
I also did not see an obvious solution under the Regular Assets section either. Perhaps the Special Receipts section would be the way to go? Any suggestions would be appreciated.