How do I enter the dividends a corporate officer takes

[acctjo]

I am having trouble balancing my Schedule M. There are $44,000 worth of withdrawals by the Corp officer. I'm not figuring out where to put them to make it flow as taxable income to the K-1 and balance my schedule

[abctax55]

C or S Corp?

[Accountant-Man]

Why would an officer take withdrawals? Is she a shareholder, too?

[acctjo]

S

[acctjo]

problem solved

[abctax55]

Just in case of  'delete', here's the original post:

I am having trouble balancing my Schedule M. There are $44,000 worth of withdrawals by the Corp officer. I'm not figuring out where to put them to make it flow as taxable income to the K-1 and balance my schedule

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S-Corp shareholders/officers generally take distributions AFTER they take payroll based on reasonable compensation.

Distributions are not (generally...) taxable.

They are an adjustment on M-2 on Form 1120-S; they appear on Sch K, line 16d

They show on the K-1 on line 16, Code D

[qbteachmt]

You stated S Corp, but this would not be Dividends and this typically is an error: "to make it flow as taxable income" Because distributions, up to a point, are not taxable.

[Accountant-Man]

Good for you. Thanks for sharing.