Tracy Lee Posted March 15, 2019 Report Share Posted March 15, 2019 I'm new to ATX and was able to figure out where to put my shareholder distributions for a S Corp on the K1 input line 16 D to flow thru to my K1 but I can't find the place to put my shareholders distributions so it will flow thru to Schedule M-2 line 7 and balance my Schedule L. HELP! I have spent an hour+ trying to figure this out. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 16, 2019 Report Share Posted March 16, 2019 Click on the distributions line of M2 and press F6 to jump to the reconciliation. The tab is called Sch M-2 (1120S) - Retained Earnings. Quote Link to comment Share on other sites More sharing options...
Tracy Lee Posted March 16, 2019 Author Report Share Posted March 16, 2019 This is where I have tried to enter the amount. Line 7 first column, Accumulated Adjustments Account, but it does not allow for data entry there. It just links you to Sch K. Hmmmm... Is there somewhere on the Sch K I should be putting it? I see line 16d but that links me to a worksheet with a cash or property line. When I put it in the cash line it does populate my Sch M2 but does not carry forward to my Sch L. LOL. kinda feel like I'm in a rabbit hole. Quote Link to comment Share on other sites More sharing options...
TaxCPANY Posted March 16, 2019 Report Share Posted March 16, 2019 A] 1120S Sched K line 16d, Jump to its detail worksheet to distinguish between cash or property distributions AND populate Sched M-2. Or B] 19 steps up from the bottom of the Pages & Worksheets tab of Form 1120S input screen. 1 Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted March 16, 2019 Report Share Posted March 16, 2019 12 hours ago, Tracy Lee said: This is where I have tried to enter the amount. Line 7 first column, Accumulated Adjustments Account, but it does not allow for data entry there. It just links you to Sch K. Hmmmm... Is there somewhere on the Sch K I should be putting it? I see line 16d but that links me to a worksheet with a cash or property line. When I put it in the cash line it does populate my Sch M2 but does not carry forward to my Sch L. LOL. kinda feel like I'm in a rabbit hole. You enter the excess distributions in 4th column 'Differences' as a positive number. Quote Link to comment Share on other sites More sharing options...
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