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Get your taxes done using TurboTax
Cash distributions received from the LLC are drawings from profits that members can make.
This happens when you or your spouse write yourselves a check from the LLC. These drawings are not taxable when you have basis. They only reduce your basis in the LLC. And they are reported in box 19 of your Schedule K-1 with code A.
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‎April 3, 2020
2:40 PM
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