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Level 1

Question

Where enter distribution

Forum|Forum|7 years ago
June 1, 2019
1 reply
2 views

for s-corp where does owner enter the distribution part of his drawings?

TurboTax Premier Windows

Level 15

It should all be accounted for when the K-1 is entered, unless it is more than a draw, and if a salary it would be on a W-2.

But if just a draw or distribution, the K-1 should list it as it changes the basis, but is not taxable income.