Level 1

My client made a payout/distribution to his former partner in an s-corp. How do I report this distribution? The former partner was not an owner of the s-corp in this tax year.

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Level 15

S corps don’t have partners.  What was the payment for?

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

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