ncCPAp on the GO!

  • 1.  S CORP DISTRIBUTIONS

    Bronze Most Valuable Member
    Posted 11 days ago
    is the calculation as to whether an S corp has distributions in excess of basis measured only at year end. For example if an S corp takes a distribution mid-year when there is plenty of AAA and at year end accrues a large pension deduction which is paid in the following year that results in significantly reducing AAA . Under such circumstances is the distribution taxable?

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    Gabriel Bentovim
    HOFFMAN & BENTOVIM, CPAs PC
    Commack NY
    631-499-1500
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