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Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
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- Distributions in Excess of AAA
Distributions in Excess of AAA
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nicole93
Level 1
01-31-2022
10:29 AM
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I am working an amendment for a client, but I am stuck on this one thing. This client has always been an S Corp so there is no AEP. I know distributions cannot take AAA negative, but losses can. I am trying to tie retained earning to AAA. I know the difference is the distributions that could not take AAA negative. Is this a permanent difference?
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sjrcpa
Level 15
01-31-2022
01:00 PM
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Yes.
The more I know, the more I don't know.
