new s-corp that started in 2024. first tax filing. where do I find "shareholder distribution" in the balance sheet section?

[ziyamusic]

where do I find shareholder distribution?

[PatriciaV]

For an S-Corp (Form 1120S), member distributions are entered under Business Info >> Shareholder Information after continuing past the list of shareholders.

1. On the page "20XX Distributions to Shareholders," check the box for "Yes" and continue.
2. Enter the TOTAL amount of cash or property distributed in the appropriate box.
3. TurboTax will allocate according to the ownership percentages.
4. Continue to the end of the section to save your entries.

You can also enter this information using Forms Mode.

1. Open Sch K-1 Wks.
2. Scroll to the bottom of the worksheet.
3. Enter the allocated distribution total for each shareholder at the bottom of the form.