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    • Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
    Created with Sketch. See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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    Distribution Received from LLC

    slskservices
    Level 1
    ‎09-21-2020 12:45 PM

    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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    1 Best Answer

    Accepted Solutions
    sjrcpa
    Level 15
    ‎09-21-2020 12:47 PM

    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

    3 Comments 3
    sjrcpa
    Level 15
    ‎09-21-2020 12:47 PM

    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

    Thank you!!!!

    sjrcpa
    Level 15
    ‎09-21-2020 12:57 PM

    You're welcome.

    The more I know, the more I don't know.
    0 Cheers




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