Business & farm
No, there is no particular form to fill out for your distribution. It is handled within the program in the "Shareholder Information" section. The following steps should assist you in entering the distribution:
The easiest way to get to the entry screen for shareholder distributions is to click on "Search" towards the top right corner and type in "shareholder distribution" in the search bar, then click on the jump feature.
You should arrive at the screen showing below and click where it says "Yes, the corporation ...:
Click "Continue" and the following screen should appear:
Since the distribution you are asking about is for corporation property, you should enter the fair market value of the property distributed in the Property box and then click continue.
You will then need to enter and/or review the shareholder's stock and debt basis limitations for accuracy. The questions and guidance within the program should assist you in completing this area.
