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Been doing this for too many decades.
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Lacerte TaxExperience: 41 years
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Please be nice to Susan (@sjrcpa). She is just attempting to help you avoid spammers.
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@cpatom777 You are NOT talking to Intuit/Lacerte support. We are just fellow software users (except for the occasional moderator/employee that wanders by). As m...
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Bruce... you need to get some 'hot' coffee. This is an old post 😉 Hi to Barb
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So.... assuming that is possible (S-Corp asset but he lives in it 😉) would the value of the personal use get added to his W-2 ???
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You don't put the 'excess' distributions on the F 1120-S/Sch D. That info is entered on the F 1040. And may/may not be adjusted if there is outside basis.
