Based on this advice (enter cash distributions in shareholder info, enter $0 in balance sheet question) and now using that Schedule K information (line 16 Items affecting shareholder basis - D $amount) on my TT personal taxes, TT is telling me:
"Based on your inputs, you have one of the following conditions that require Form 7203 (S Corporation Basis)
-received a non-dividend distribution from an S Corporation
Fill in the information on the Form 7203 below about your S Corporation basis"
And Form 7203, line C "Stock Block" in highlighted in blue.
WTH do I put here? Like the OP, I have an LLC, file as an S-corp and take cash distributions.
Thx
