how to do owners pay for multi member llc in turbotax business

pavakshah · ‎February 5, 2025

Last year i did some owners distribution from LLC to Personal account. I am wondering where do I add that in Turbotax business 2024? Appreciate any input. Thank you.

PatriciaV · ‎February 5, 2025

Shareholder Distributions are entered in TurboTax Business under Business Info >> Partner/Member Information.

Edit each member and follow the prompts to the page "Member Capital."
Enter the amount of Distributions (cash or property) in the appropriate box(es).

You can also enter this information using Forms Mode.

Open Sch K-1 Wks.
Enter the amount of current year distributions under the "Capital" column for each member.
Use the gray scrollbar or PageDown to move between members.
Total cash & property distributions appear at the bottom of the form.

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**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

PatriciaV · ‎February 5, 2025

Shareholder Distributions are entered in TurboTax Business under Business Info >> Partner/Member Information.

Edit each member and follow the prompts to the page "Member Capital."
Enter the amount of Distributions (cash or property) in the appropriate box(es).

You can also enter this information using Forms Mode.

Open Sch K-1 Wks.
Enter the amount of current year distributions under the "Capital" column for each member.
Use the gray scrollbar or PageDown to move between members.
Total cash & property distributions appear at the bottom of the form.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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how to do owners pay for multi member llc in turbotax business