As an multi-parntership LLC that files as an S Corp, I pay out the profit every year in relation to the K1 earnings. When I file next years, or this years, taxes do I put that money paid to shareholders in this section, or is this section only for separate draws
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The Distributions section is generally for anything other than loans and salaries.
To piggy back to the last question...2019 was our first year in business. We are a S Corp. Owners get paid a reasonable wage through out the year. We are paying out a distribution of 2019 income...should this be dated 2019 or 2020?
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