In regards for our LLC, Form 1065 (members are husband and wife. I made up the numbers for my question) :
In year 1 we had earnings in the amount of $5000.00. In Year 2 I wrote a check to myself and my husband for $5000.00 to pay us for the earnings from Year 1.
On Year 2's 1065 return do I record the $5000 as a Cash Distribution to Members in Turbo Tax?
