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loch-6
New Member

How do i file a non taxable distribution from an s corp

do i have to file schedule k-1? if so on what line?


Thanks!!

1 Best answer

Accepted Solutions
Howard1948
Level 7

How do i file a non taxable distribution from an s corp

You include a Schedule K-1 to show the allocation of all the income of the S corporation to each shareholder.  You do NOT include distributions of income to each shareholder on a K-1.

I highly recommend that you seek outside competent tax advisors to help you through this.

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4 Replies
Howard1948
Level 7

How do i file a non taxable distribution from an s corp

You include a Schedule K-1 to show the allocation of all the income of the S corporation to each shareholder.  You do NOT include distributions of income to each shareholder on a K-1.

I highly recommend that you seek outside competent tax advisors to help you through this.

TaxGuyBill
Level 9

How do i file a non taxable distribution from an s corp

Distributions are shown on the K-1 (box 16), but I agree, you should seek a tax professional for assistance.  Unless you REALLY know how to operate a corporation, it is easy to make mistakes that can easily cost you thousands of dollars.
Howard1948
Level 7

How do i file a non taxable distribution from an s corp

https://ttlc.intuit.com/questions/4142050-when-are-distributions-from-an-s-corp-not-part-of-your-inc...

This question was answered in your other posting of a similar question.

loch-6
New Member

How do i file a non taxable distribution from an s corp

i am asking here how to file it meaning what forms do i file and where?
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