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Get your taxes done using TurboTax
@TheConfusedTaxGuy wrote:
...Or am I completely misunderstanding it?
You are misunderstanding it. Distributions that are not in excess of your basis in the entity are not taxable; only income you receive as salary (via W-2) and profit (and other miscellaneous income) passed through to you on your K-1 are taxable.
‎November 15, 2022
3:13 PM