Home› Accounting› Accounting Technical Support
Options

Owner’s Equity (Retained Earnings) and K-1 business income

alphacentauri98alphacentauri98 Member Posts: 1

how can I record 2019 k-1 ordinary business income (about 50K) that has not been disbursed in 2020 accounting? I plan to disburse this money in 2021.
The company is a single partner LLC operating as an S corp.

Tagged:
in Accounting Technical Support

Comments

  • Options
    AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hey @alphacentauri98 , this is considered complex accounting due to your specifics so I'd highly recommend reaching out to a CPA or an accountant to help you advise on this.

  • Options
    DTurnerDTurner Member Posts: 2

    This sounds like a standard thing that someone would do with an S-Corp. It would be nice to have an answer since google links to this page.

Sign In or Register to comment.