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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?

2 Replies
tagteam
Level 15

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...

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