Distributions to Shareholders....what form does that end up on?

[Plarka]

When you answer the 'distributions to shareholders' question on Turbotax Business, what line do they enter that and on what form?

[SabrinaD2]

In TurboTax Business, distributions to shareholders for an S corporation are typically reported on Schedule K-1 (Form 1120-S). Specifically, these distributions are entered on Line 16d of the K-1.

If you aren't referring to an S corporation please reach back out and clarify.

[Plarka]

It is for S Corp.  However, on the K-1 I only see a 16 that says 'Items affecting shareholder basis' and don't see a D    On the 1120S I see on line 16 'Loan balance at the beginning of the corporation's tax year.'

[Plarka]

Would it be line 6 on 1120S?

[PatriciaV]

On Form 1120S Schedule K-1, distributions are reported on Line 16 using Code D. The list of codes generally supplied with Schedule K-1 shows the description for Code D as "Distributions" (see below).

You'll also find total distributions on Form 1120S Line 16d.