Cash distributions are reported on the 1065 Sch K line 19(a) and on each partner's K-1 box 19 Code A in proportion to the ownership.
They will also be reported in two other places depending on how you respond to form 1065 Sch B question. If the answer to this question is "No", then they will also be reflected on Sch M-2 line 6(a) and also on the respective partner K-1 Section L.
If you respond "Yes" to the above question, then the distributions will not be reflected on the M-2 or K-1 Section L. Those areas will be blank in accordance with the instructions.
Well we need to get the facts straight first. You are asking about a Sub S but then refer to a form 1065 which is filed for a partnership.
Or are you saying that your partnership owns an interest in an S corporation and received distributions from the S corp?
It is a family limited partnership which reports on Schedule K-1
You didn't answer my question. Don't understand "Sub S partnership"
Because tax is not paid by the partnership but by each partner on their individual tax returns.
I understand how partnerships operate. I want to understand why you are using the phrase "Sub-S partnership". Please read my original response.
A Sub-S and a partnership are two different entities.
It is a partnership as I stated. I am simply asking where and how how I enter distributions to partners in TurboTax form 1065. Forget the mention of Sub-S if you wish.
Cash distributions are reported on the 1065 Sch K line 19(a) and on each partner's K-1 box 19 Code A in proportion to the ownership.
They will also be reported in two other places depending on how you respond to form 1065 Sch B question. If the answer to this question is "No", then they will also be reflected on Sch M-2 line 6(a) and also on the respective partner K-1 Section L.
If you respond "Yes" to the above question, then the distributions will not be reflected on the M-2 or K-1 Section L. Those areas will be blank in accordance with the instructions.