When and why would I take distributions from my S-Corp?
Jun 7, 2019 · When and why would I take distributions from my S-Corp? What is the tax implication? What is the difference between that and K-1 income?
How to report S-Corp shareholder distribution on 1120S ... - Intuit
Jan 24, 2021 · I'm a shareholder of an S-Corp. In 2020, the S-Corp distributed some money to me as owner drawing. In Form 1120S Schedule K-1 Box 16 - Items Affecting Shareholder's Basis, …
Solved: I did not take any salary or wages from my S-Corp - Intuit
Oct 6, 2022 · An S corporation shareholder can take a distribution at any time, regardless of whether or not a salary is paid. A sole shareholder, such as @Haroon, is taxed on the net …
Solved: Where does my s-corp profit/loss get input to my ... - Intuit
Jun 3, 2019 · When you complete the Form 1120S in TurboTax Business, you will generate a Form K-1 for each shareholder in the S Corp. This K-1 becomes the input document by which …
Solved: Retained Earning - S-Corp - Intuit
Mar 7, 2024 · However, you need to determine where the distributions ended up on your prior year balance sheet as listed on schedule L and offset the adjustment to retained earnings with …
Do you show final liquidating distributions by an S-Corp on ... - Intuit
May 31, 2019 · S-Corp dissolved on 12/31/16. $3000 cash and $4000 FMV of office equipment was distributed (liquidating) to two 50/50 s/h's. I am reading conflicting articles on how to show …
Should I pay myself a salary as an S-corp owner? - Intuit
Dec 22, 2025 · An S-corp (also called a Subchapter S corporation) is a small corporation that elects to pass corporate income, losses, deductions, and credits through to their shareholders’ …
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Solved: S Corporation Excess Distribution - Intuit
Aug 31, 2022 · The IRS instruction for S Corporation Stock and Debt Basis clearly states that any non-dividend distribution is tax-free provided the distribution does not exceed the …
If I take no distributions from an S-Corp, do I need to be ... - Intuit
Jun 5, 2019 · If I took no distributions from a 100% owned S-Corp, do I need to pay myself wages? The S Corp started 6 months ago and earned about $50K last year. I didn't set up …
Question about distributions for LLC filing as S Corp
Jan 14, 2025 · Question about distributions for LLC filing as S Corp I have an LLC and file as an S Corp, and I'm the only member and employee. If I have been putting what people pay me into …