Sorry, I am still a little confused. Every other year, the amount listed as distributions to shareholders on the corporate return was split evenly and included as income on our k-1's between the shareholders as box 1 ordinary income and we personally paid taxes on those amounts. This year turbo tax included the distributions as an offset against income and is not considering them in the income of the corporation or as cash distributions. So for example instead of personally owing taxes for $80,000 in payments I received, turbo tax is saying I only owe taxes on 5,000 in income. This doesn't seem right?
