@mikeTT220 wrote:
Now to the problem: Upon entering the value in cell 1, our personal taxes are computed based on the $73K of cell 1, not on the $22K in cell 16, which can't be right since we only received the $22K.
That is absolutely correct; you are not taxed on the distribution because you are already taxed on the ordinary business income reported on Line 1 of your K-1.
