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Level 1

Question

Where do I claim a distribution received from a S Corp I am 50% owner of? The 1120S doesn't seem like it is the correct form. I never had to do this before.

Forum|Forum|5 years ago
March 8, 2021
2 replies
8 views

I don't see where in the Schedule K-1 distribution is covered. No investments have been made in years and this is my first distribution ever received

TurboTax Premier Online

Level 15

If you received a distribution, the figure should appear on Line 16 of your K-1.

Level 15

Cash non-dividend distributions from a S-Corp are reported in box 16 with code D.

Distributions are not taxable as long as they do not exceed the basis of your stock.

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