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TurboTax S-Corp does not substract Shareholder Distribution when the Retained Earning is negative
TurboTax shows how it calculates the Retained Earning:
I have $2000 Shareholder Distribution but TurboTax doesn't deduct it from the Retained Earning. (I tried it with a positive retained earning, it will show the $2000 distribution if it's positive) As a result, this throws off my Balance Sheet calculation by $2000. What should I do? Any suggestion is appreciated!
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March 13, 2021
10:16 PM