For an S-Corp (Form 1120S), member distributions are entered under Business Info >> Shareholder Information after continuing past the list of shareholders.
- On the page "20XX Distributions to Shareholders," check the box for "Yes" and continue.
- Enter the TOTAL amount of cash or property distributed in the appropriate box.
- TurboTax will allocate according to the ownership percentages.
- Continue to the end of the section to save your entries.
You can also enter this information using Forms Mode.
- Open Sch K-1 Wks.
- Scroll to the bottom of the worksheet.
- Enter the allocated distribution total for each shareholder at the bottom of the form.
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