turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

AmyEllen
Returning Member

When TT Business asks if I took a distribution from my S Corp...

I am 100% owner of an S Corp.  Over the year I took distributions (along with wages).  At one point I also put in a large contribution.  When you combine the two, the contributions are a little bit larger so the number is positive.  When TT Business asks if I took a distribution from my S Corp, is it asking just for the distributions, or contributions and distributions added together?  What if the contributions are larger than the distributions?  What number is it looking for?

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

When TT Business asks if I took a distribution from my S Corp...


@AmyEllen wrote:

What number is it looking for?


It is just looking for cash and property distributions to shareholders (the total amount) made during the tax year.

AmyEllen
Returning Member

When TT Business asks if I took a distribution from my S Corp...

The reason I asked is that the CPA we used last year combined them...

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies