Where enter distribution

henlite — Sat, 01 Jun 2019 16:47:25 GMT

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

It should all be accounted for when the K-1 is entered, u...

MichaelL1 — Sat, 01 Jun 2019 16:47:27 GMT

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.