1. Your W-2 Box 1 should reflect your actual taxable wages of $50,000.
2. If you took $100K from the business and deposited in your personal account, then you would report a $100K distribution to yourself. However, if you withdrew less than the total income amount, then you would report exactly the amount you withdrew for personal use.
3. Schedule M-2 is on Form 1065 p4-5, near the end of the form.
- Open your return and click on the Forms icon in the TurboTax header.
- Click on the form you need in the left column to open it in the large window.
- Scroll down to the bottom for Schedule M-2.
Note that any amount in black comes from another form and cannot be changed. If you enter something and it turns red, click the Errors icon above the list of forms to display the error below the form.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
