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View Full Version : What happens if I forget to take my year end distribution from my S-corp?


wilcotech
Feb 8, 2012, 03:28 PM
I completely forgot to take 0 out my business account and ended up with a HUGE sum in there at the end of my tax year. How bad does this mess me up?

MukatA
Feb 9, 2012, 04:07 AM
It does not mess your tax return as long as you have reported K-1 income. Take distribution when ever you want.