j-a-hyde
New Member

Did "Your Corp" distribute any money to shareholders, excluding salaries, loans, and profits from Sch K-1? if I took a draw on profit it is excluded in this question?

Turbotax is asking: Did "Your Corp" distribute any money or property to shareholders during the tax year, excluding salaries, loans, and profits from Sch K-1? This does not make sense. I am trying to file my 1120-S which will include the K1 that I have not made yet. I take a payroll and often take an owners draw on profit... So both would be excluded from this question?