how to do owners pay for multi member llc in turbotax business

Forum|Forum|1 year ago
February 5, 2025
1 reply
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Last year i did some owners distribution from LLC to Personal account. I am wondering where do I add that in Turbotax business 2024? Appreciate any input. Thank you.

TurboTax Business Windows

Best answer by PatriciaV

Shareholder Distributions are entered in TurboTax Business under Business Info >> Partner/Member Information.

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

You can also enter this information using Forms Mode.

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

PatriciaVAnswer

Employee

Shareholder Distributions are entered in TurboTax Business under Business Info >> Partner/Member Information.

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

You can also enter this information using Forms Mode.

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

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