As an owner of an s-corp., can I pay myself a distribution in 2022 from 2021 earnings reported on K1? I have paid myself a salary and a bonus, but never ever a distribution. If yes, I assume I can do a bank withdrawal? How do I report it for 2022 whereby it will not be treated as taxable because I have already paid personal income tax for it. Thank you.
See the screenshot below for where to enter the distribution in the program.
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