How to enter Nondivdend distributions into Turbotax Business 2024

[PatriciaV]

A non-dividend distribution is typically the return of partners/members capital. Where these are entered in TurboTax Business depends on the type of return you are working on.

For a Partnership (Form 1065), Shareholder Distributions are entered under Business Info >> Partner/Member Information.

1. Edit each member and follow the prompts to the page "Member Capital."
2. Enter the amount of Distributions (cash or property) in the appropriate box(es).

You can also enter this information using Forms Mode.

1. Open Sch K-1 Wks.
2. Enter the amount of current year distributions under the "Capital" column for each member.
3. Use the gray scrollbar or PageDown to move between members.
4. Total cash & property distributions appear at the bottom of the form.

For an S-Corp (Form 1120S), Partner distributions are entered under Business Info >> Shareholder Information after continuing past the list of shareholders.

1. On the page "20XX Distributions to Shareholders," check the box for "Yes" and continue.
2. Enter the TOTAL amount of cash or property distributed in the appropriate box.
3. TurboTax will allocate according to the ownership percentages.
4. Continue to the end of the section to save your entries.

You can also enter this information using Forms Mode.

1. Open Sch K-1 Wks.
2. Scroll to the bottom of the worksheet.
3. Enter the allocated distribution total for each shareholder at the bottom of the form.