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A
AmyEllen
January 25, 2020
Question

When TT Business asks if I took a distribution from my S Corp...

  • January 25, 2020
  • 1 reply
  • 0 views

I am 100% owner of an S Corp.  Over the year I took distributions (along with wages).  At one point I also put in a large contribution.  When you combine the two, the contributions are a little bit larger so the number is positive.  When TT Business asks if I took a distribution from my S Corp, is it asking just for the distributions, or contributions and distributions added together?  What if the contributions are larger than the distributions?  What number is it looking for?

1 reply

A
Anonymous_
Employee
January 25, 2020
@AmyEllen wrote:

What number is it looking for?

It is just looking for cash and property distributions to shareholders (the total amount) made during the tax year.

A
AmyEllenAuthor
January 25, 2020

The reason I asked is that the CPA we used last year combined them...

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