Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Intuit Biz e-filing closure on December 21 at 6:00PM PST. Select your product for more Hot topics. Lacerte | ProConnect | ProSeries
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- Schedule M-2, Form 1120S
Schedule M-2, Form 1120S
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
mparacha
Level 1
03-11-2021
10:03 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a client who is an S Corp. I am preparing Sch M-2 that has a beginning balance (line 1) of 19k. The income for the year (line 2) is 4.6k. The total is approx. 20k. The distributions for the year based on the cash activity is $3,276, leaving a balance of $17k. The AAA balance, should be $3,276 (cash). I believe it is over stated (should be $3,276) because the distributions in prior years were not taken on line Schedule M, line 7 in prior year. Can we the prior year distributions on line 7 (distributions)?
This discussion has been locked.
New comments cannot be posted on this discussion anymore. Start a
new discussion
