TBMS
Level 1

I have a client that is a LLC taxed as a C corporation.  They have taken out payments to themselves in the course of a year. Their accountant recorded the payments as an expense. How is this filed on their personal tax return and on the corporate return? 

Should this be a loan/distribution/dividend? 


The payments to them for 2018 and 2017 is causing negative equity as well on their financials. 

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