Hi,
I am a Georgia S Corp with only 1 shareholder. A small payroll company who has been struggling since Covid. No business earnings for the past three years. As a result, this is my final business tax return for tax yr 2022 for which it is marked on my business tax return. I am not sure to why the retained earnings are not showing on my Sched K. Unsure if it’s because I was already taxed and that amount of retained earnings are showing on Sched M-2 and that is why the distribution amount is not going on my personal taxes? Not sure if the Turbo tax software is actually processing correctly or am I suppose to add the undistributed previously taxed amount onto my personal tax return 1040(Home/Business). Hopefully someone can assist or
at least answer my questions.
