slskservices
Level 1
09-21-2020
12:45 PM
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I have a client who received a distribution from an LLC (reported on the client's K-1 received from the LLC, Box 19 A). My client is an S Corp so am wondering how I report this distribution received, specifically, does it go on the M-2 under line 3 - other additions or somewhere else?
Thanks!!
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sjrcpa
Level 15
09-21-2020
12:47 PM
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It reduces the Investment in LLC account on the S corp's balance sheet.
The more I know the more I don’t know.
slskservices
Level 1
09-21-2020
12:54 PM
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Thank you!!!!
sjrcpa
Level 15
09-21-2020
12:57 PM
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You're welcome.
The more I know the more I don’t know.
