Can an S-Corp's distributions be greater than net income? TurboTax doesn't seem to allow it.
I'm having this same issue too even in the 2021 edition of TT Business and boy did it cause me a lot of pain. Seems like it still hasn't been fixed? Had to manually override and fix the other numbers. VERY FRUSTRATING!
Can an S-Corp's distributions be greater than net income? TurboTax doesn't seem to allow it.
TT will not let me change the distribution figure. How did you do that? My retained earnings are negative and someone said TT will not let you enter distributions if you have negative retained earnings. It stays at 0 and will not change!
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