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Is it going to raise a flag if our S-Corp distributions are much higher than the calculated profit for the year?
Our owner distributions (beyond wages) were almost $50,000 total more than what TurboTax is calculating as our "ordinary income" (profit) last year. Will this raise a red flag with our return?
FYI, we paid ourselves more after underpaying ourselves in previous years.
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‎June 5, 2019
11:24 PM