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jennysolar1
Returning Member

S Corp retained earnings

I filed my first 1120S in 2019 and had retained earnings of $38k. In 2020, I paid out those retained earnings in the form of distributions which exceeded my 2020 income. Turbotax just keeps calculating retained earnings as $38k no matter what I do. I'm stuck. Please help!

 

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2 Replies

S Corp retained earnings

Mac version? There is no Mac version of TurboTax Business. Please explain.

jennysolar1
Returning Member

S Corp retained earnings

you're right... I'm on my daughter's PC 

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