I need advice on my shareholder basis. I switched to an s corp this year. We had a loss as a company of 10k but I did distribute 35k to myself. What would go on my 1040?

S corp shareholder basis is tracked on IRS form 7203 which is included within the screens for the IRS Schedule K-1 (1120S).

 

The form takes into account gains, losses, distributions among other things.

 

Form instructions are here.