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Cash distributions to owners
9/4/09 9:39 AM
Total Views: 212
Total Views: 212
Are cash distributions to owners considered property distributions for tax purposes ie: line 16d on the 1120s
All Replies: Answers (2)
Rating + 1
Answer
9/4/09 10:22 AM
Yes. Cash is a form of property.
Hey, we get sig files now! Cool - I wonder what I'll put here? Ah, I know: RTFM.
Rating + 1
Answer
9/4/09 10:33 AM
Yes, in fact the line for the shareholder distributions smart w/s says "total cash and property distributed to shareholders."
As it gets closer to tax season, I wish I had some hair to pull out.
