Does Turbotax Business prompt me to enter distributions from an S Corp and handle them appropriately?

The TT Business edition will prepare the 1120S tax return and the K-1s needed to be provided to each owner of the S-corp.  The K-1 is used by each owner to input into their individual 1040 tax returns.  TT Business does NOT prepare a 1040 return.

Right, but the distribution has to be analyzed against the shareholder's stock basis, which doesn't appear anywhere on the 1120S or K-1, so I'm wondering if the Business package deals with distributions at all.

its not done correctly at all in TT--it only prints line 17 supplement 199A not a K-1

" I'm wondering if the Business package deals with distributions at all."

Indeed it does in the interview section (see screenshots below) which, in turn, is reported on the appropriate forms.

Thanks, Tag Team - that's just what I needed!  Appreciate your time and assistance.

You are most welcome.

The TT Business edition can complete an S-corp return in full correctly. However, if you have never completed an 1120S form then you may want to seek professional assistance to do the first one and get educated.

Thanks Critter, have you taken a distribution using the Business edition?

Buy the package and go through the dialogs. If it doesn't make sense, come back here.
But I don't see many questions on the Business edition on this forum.