Ashwin1
New Member

Business & farm

Thanks for the response Patricia. In my case, I need to report the balance sheet. However, I think the following may be the right recourse - to report the dividend distribution on line 16 D of schedule K. This draw from the business income from line 1 Schedule K which is line 21 on 1120S. That dividend distribution will also show up on schedule M-2 line 7 (essentially, the business income that comes to the sole owner of the LLC). Is this correct?