abctax55
Level 15

Just in case of  'delete', here's the original post:

I am having trouble balancing my Schedule M. There are $44,000 worth of withdrawals by the Corp officer. I'm not figuring out where to put them to make it flow as taxable income to the K-1 and balance my schedule

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S-Corp shareholders/officers generally take distributions AFTER they take payroll based on reasonable compensation.

Distributions are not (generally...) taxable.

They are an adjustment on M-2 on Form 1120-S; they appear on Sch K, line 16d

They show on the K-1 on line 16, Code D

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