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Deductions & credits
One last question for my balance sheet which relates to owners capital. The owners capital on my balance sheet in 2020 was an entry made in 2019 for an adjustment of my 2008 c-corp. (it was c-corp earnings that taxes were paid on in 2008). I have closed out my distributions and the taxable dividends to the owners capital. Is there an issue when deductions taken from owners capital is more than the salaries paid to owners?
‎February 18, 2021
7:10 AM