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5
578
Level 2
July 26, 2022
Solved

Where do I put Member Draws/Owner Draws on the 1120-S in ProSeries?

  • July 26, 2022
  • 6 replies
  • 51 views
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Best answer by sjrcpa

For an 1120S it is called Distributions.

For a Schedule C there is no place to enter owner draws on the tax return.

6 replies

IRonMaN
IRonMaN
Level 15
July 26, 2022

No such thing on an 1120S.

Slava Ukraini!
    5
    578Author
    Level 2
    July 26, 2022

    Are you saying we do not total and enter how much the members of the Sub Corp took out during 2021 on the 1120-S tax return?  There is no place to enter this information on the 1120-S?  

    Is there a place to enter Owner's draws on the individual 1040 individual, just not on their 1120-S?

    sjrcpa
    sjrcpaAnswer
    Level 15
    July 26, 2022

    For an 1120S it is called Distributions.

    For a Schedule C there is no place to enter owner draws on the tax return.

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