No, Box 16 Code D is appropriate for S-Corp distributions. However, if your Form 7203 doesn't match the accumulated K-1s, you need to identify the source of the difference. Then the S-Corp may revise the business return and/or your K-1.
Note that the deadline to file 2025 S-Corp returns is March 15, 2026. If you need help meeting that deadline, you may consider upgrading to TurboTax Experts. This online service provides step-by-step guidance from a tax expert whenever you need assistance, either over the phone or by screensharing. The savings of time and effort may be worth the extra cost.
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