☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Mar 5, 2025 2:05:33 PM

Where to enter profit distributed during the year to partner from multi partner LLC in TurboTax Business software

Hi,

We periodically distribution amount to partner for multi partner LLC. Where to enter distributed amount in TurboTax business software. At year end portion is profit distributed and remaining remain in re-invested in business. 

 

Thanks 

0 2 932
2 Replies
Expert Alumni
Mar 5, 2025 4:05:43 PM

Partnership Distributions are entered in TurboTax Business under Business Info >> Partner/Member Information.

 

  1. Edit each member and follow the prompts to the page "Member Capital."
  2. Enter the amount of Distributions (cash or property) in the appropriate box(es).
     

 

You can also enter this information using Forms Mode.

  1. Open Sch K-1 Wks.
  2. Enter the amount of current year distributions under the "Capital" column for each member.
  3. Use the gray scrollbar or PageDown to move between members.
  4. Total cash & property distributions appear at the bottom of the form.

Level 2
Mar 6, 2025 10:51:57 AM

Hi Patricia V,

Thanks for providing direction. Just reconfirming that entered amount will not reduce "member capital amount" as this distribution part of profit. I believe it adjust the member capital amount based on all entry of Income and expense and left with surplus difference. 

 

Thanks again for your help. Appreciate it. 

 

Thanks

HP