The easy but most likely too simple answer is that if you reported the income on your personal tax return (passed through) are distributions. This is where your equity/contributions/basis become important because you do not have to pay tax on any distribution that is a return of your capital (investment) in the business. Another thing you have to be aware of is the reasonable compensation that you are required to take- the S Crop must issue you a W2 and pay the corresponding employment taxes etc.
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