Level 12

I'm a bit confused; did you Edit your original text?

 

"There was also a $30K distribution but I'm taking that as a shareholder principal payment. "

What is a Principal Payment? Did you mean Loan payment?

These perspectives are hard to follow as for who owes to whom. Was there Payroll? As a sole shareholder, you would not really make a loan To/From yourself. Has there been a Note Payable document with interest charged between any/either party?

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