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- K1 only for distribution
K1 only for distribution
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socalelm
Level 1
04-04-2024
11:01 AM
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I have a new client who will receive a K1 for a stock distribution. He is not new to the company but has never received a K1 in the past. I've only encountered K1s for partners or S-corp shareholders, who receive them each year to show their portion of the income/losses. Why would he only receive one for a distribution?
1 Comment 1
Terry53029
Level 14
04-05-2024
03:12 PM
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The entity used Turdo Tax to file instead of going to a Professional Tax Preparer
