K1 for my S Corporation

[Looney1966]

My S Corp received a K1 from a partnership that it is a partner in.  It lists distributions on the K1 (line 19). where do those get entered on my S Corporation?

[Mike9241]

if the S-corp invested in a partnership, the distributions from it reduce the tax basis. income adds to tax basis. losses deduct from tax basis. Unless tax basis goes negative there are no other tax considerations except if the partnership activity is a passive activity. so in effect the distributions from the partnership is not reported

[Looney1966]

If your basis exceed the basis does that get picked up on the S Corp or flow through to the shareholder?