Officers’ Compensation

This template details the information for officers’ compensation that is required to be reported on the current year tax return if total receipts are $500,000 or more and also takes into account compensation reported on Form 1125A. This template also contains a journal entry to reclassify officers’ compensation if it is included in other compensation accounts.

Entering Information

All of the information needed to produce the officers’ compensation detail for the tax return is entered on the Input worksheet. The yellow highlighted cells are calculated fields, and no data should be entered in these cells.  Gray cells are not calculated fields, but data should not be entered in these cells.

Enter the following information for each officer for the current tax year:

  • Name
  • Social security number
  • Percentage of time devoted to business
  • Percentage of corporation common stock owned
  • Percentage of corporation preferred stock owned
  • Amount of compensation (Total compensation for calendar year entities should equal the amount reported on Form W-3.)