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Get your taxes done using TurboTax
S-corp distributions are generally non-dividend distributions. They are not taxable when they do not exceed the stock basis of the shareholder. Distributions are reported on form K-1 in box 16D.
You do not report distributions on form 1099-DIV as they are not dividends.
Please read this IRS document for more information.
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‎January 28, 2025
6:41 AM