Answered: Distribution Received from LLC

slskservices · ‎09-21-2020

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!!

sjrcpa · ‎09-21-2020

It reduces the Investment in LLC account on the S corp's balance sheet.

The more I know the more I don’t know.

View solution in original post

sjrcpa · ‎09-21-2020

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 · ‎09-21-2020

Thank you!!!!

sjrcpa · ‎09-21-2020

You're welcome.

The more I know the more I don’t know.

Distribution Received from LLC

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