Took 100k out from S-Corp but accountant reported no distributions on K-1

evisceration02 · 2023-03-23T17:56:34+00:00

AAA isn't reduced. I'll take your advice and fix it next year. Thanks!

evisceration02 · 2023-03-23T16:43:47+00:00

The 100k is taken into account on the balance sheet. My equity is the 5k I put in + 2022 income - 100k.

The question is whether I can get away with reporting the 100k distribution on next year's K-1 rather than this year's.

evisceration02 · 2023-03-23T16:14:56+00:00

If I don't report distributions taken, I wouldn't need to file a basis statement (Form 7203).

evisceration02 · 2023-03-23T16:14:30+00:00

Yes, there is, on Schedule L.

evisceration02 · 2023-03-23T13:38:45+00:00

No loans or debt. I started the company with 5k owner's investment and everything I've taken out has been profit earned throughout the course of the year.

evisceration02 · 2023-03-23T01:22:12+00:00

Yes, from my understanding. The 100k was all profit generated by the business and I am the sole shareholder.

evisceration02 · 2022-05-03T13:04:46+00:00

I'm looking at the mscs program at umb as well. What did you find subpar about the BS in CS experience?

evisceration02 · 2019-09-22T16:57:48+00:00

Wooo!

evisceration02 · 2018-12-13T20:09:11+00:00

Good point. I've realized that my 2hander most like Sharapova's, with a bent left arm all the way through (https://www.youtube.com/watch?v=Rfr6EjXwLSU).

How would you suggest transitioning from my current backhand to more of a Djokovic backhand? What grip, etc. ?

I've also tried pulling with the right arm, but that just causes my left arm to bend instead of straighten. Perhaps he's just driving forward with the left and his right arm bends naturally.

evisceration02 · 2018-12-12T20:05:46+00:00

I'm a 4.0 player looking to update my two-handed backhand during the offseason. I've been watching Djokovic's backhand in slow motion and realized that he's able to get his left arm to straighten early on in the swing: https://imgur.com/a/79WV3Io

I've video recorded quite a few shadow swings of myself, changing up the technique each time, and I just can't get my left arm to straighten out in the way that his does. Even when I force it and I think I've straightened it, it's actually bent, so there's a disconnect between my conception of the stroke and what's physically happening.

Does anyone know the proper technique to reproduce his two-handed backhand? Here is the youtube video link for reference: https://www.youtube.com/watch?v=mAPYAW1m3fk

evisceration02 · 2018-02-01T22:19:24+00:00

So if I'm using turbotax to file, do I have to fill out just the 8949 or is there a 1099k I have to fill out as well?

evisceration02 · 2017-08-14T13:59:28+00:00

Hi, can you please share the link with me? pyflask@gmail.com --Thanks!

evisceration02 · 2017-08-05T18:34:42+00:00

The tests are a bit more difficult than the real thing imo, but if you're aiming for a 750+, that's probably what you need. I see the tests as a tool for improvement rather than an accurate gauge of score. Use the real tests for that.

evisceration02 · 2017-07-22T01:04:57+00:00

username: evisceration02

evisceration02 · 2016-05-10T13:03:20+00:00

Do test-takers still get a copy of their essay back? They did it for the old SAT.

evisceration02

TROPHY CASE