@Jeff65 wrote:
Is this distribution simply our business profit, divided by 2, for each of us?
Your distribution would be the figure you actually distributed out of the partnership (i.e., if you retained all of the net profit in the partnership, then there is no distribution but you will each have tax liability on the net profit - it is passed through to the partners/members, regardless).
For example, on a net profit of $10,000, a distribution could be the be transfer of $5,000 in cash to each of you.
