CoachSteve
Level 1
12-07-2019
08:52 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I did some research and discovered that while distributions are required to be proportionate, they don't have to all be made at the same time. In our case a member who was leaving the business took money out of the business (in excess of his salary) before year-end. The other members took their share in 2019 (when cash was available). This is perfectly legitimate. So my question stands: is there a separate place to enter non-pro rata distributions (cash only) and that carries to each member's K-1? Or, do I need to override the distributions on each K-1 separately?