Final comments:
- Don't disagree at all with what the IRS website says. However, we don't know what else is on the K-1; such as separately stated items.
- As noted previously, correcting an omission of prior year distributions and including them in the current year is not the technically correct method to fix your issue; for either the corporate return of your personal return. Just keep that in mind.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
