New Member

K1 questions ordinary business income vs distribution

I have a K1 that I received a distribution of 10,671 dollars for - but under box 1 Ordinary business income it states 25,494 - so my amount after taxes is literally 271 dollars of profit?  Is turbotax calculating this incorrectly?
New Member

Business & farm

The ordinary business income is taxable to you and increases your basis in the entity, the distribution decreases your basis, but generally does not affect you taxable income.