Should the amount in Schedule K1 1065 Section L Withdrawals & Distributions be entered as a Negative Amount?

Hi, I am entering the Schedule K1 1065 form details and the amount in the Section L Withdrawals & Distributions box is in parentheses in the K1 form. So, should I enter it as a Negative Amount while entering the details in TurboTax?

In K1 form the amount is (2500). So in TurboTax should I enter it as -2500?

Thank you!

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1 Best answer

Expert Alumni

Jun 4, 2019 4:40:02 PM

Yes, the amount for Withdrawals & distributions on Schedule K-1 is always reported as a negative number and should be entered the same way in TurboTax.

Expert Alumni

Jun 4, 2019 4:40:02 PM

Yes, the amount for Withdrawals & distributions on Schedule K-1 is always reported as a negative number and should be entered the same way in TurboTax.

New Member

Jun 6, 2019 1:47:15 PM

Thank you very much!

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Should the amount in Schedule K1 1065 Section L Withdrawals & Distributions be entered as a Negative Amount?