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socalelm
Level 1
April 4, 2024

K1 only for distribution

  • April 4, 2024
  • 1 reply
  • 8 views

I have a new client who will receive a K1 for a stock distribution.  He is not new to the company but has never received a K1 in the past.  I've only encountered K1s for partners or S-corp shareholders, who receive them each year to show their portion of the income/losses.  Why would he only receive one for a distribution?

 

 

    1 reply

    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    April 5, 2024

    The entity used Turdo Tax to file instead of going to a Professional Tax Preparer 

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