I'm using TurboTax and am confused how to report my profits from my S-corp.
On my S-corp K-1, I set line 17c "Div distributions paid from accum earnings" equal to my S-corp's ordinary business income.
But should I enter this as 1040 sched-C income or just 1099-DIV?
I'm a self-employed consultant. I entered all my earnings in the 1120S including all expenses.
I filled out the K-1 as follows: Line 1: all my income from 1120s line 21 = $105000 Line 17c =$105000 Line 18 = $105000