We have a rental property owned by an LLC with our living trust as the sole owner. We file Schedule Cs for my husband and I for the LLC and a Schedule E for the rental property on our 1040. We plan to take owner distributions against the business equity account. It is our understanding, the owner distributions against business equity do not count as personal income. Is that correct? If not, how and where is it entered in the home/business Turbotax?
