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- S Corp owner takes distribution in excess of AAA and OA balances
S Corp owner takes distribution in excess of AAA and OA balances
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cpa72
Level 3
02-18-2022
07:21 AM
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Company has negative AAA and $10K of OA. Shareholder distributions more than 14K. Program limiting the OA column of M2 to the 10K, correctly. Excess is throwing off my balance sheet. Any idea where to enter the 4K excess so balance sheet remains in balance?
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dkh
Level 15
02-18-2022
08:27 AM
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It should be treated as capital gain. IRS has the information https://www.irs.gov/businesses/small-businesses-self-employed/s-corporation-stock-and-debt-basis
