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Paul, Andrew and Sarah have an S corporation which owns a skyscraper and rent out the building to different businesses. They are all equal owners.
Paul, Andrew and Sarah have an S corporation which owns a skyscraper and rent out the building to different businesses. They are all equal owners. The year-end trial balance showed distributions. Paul tells you in an email that the only check for distributions was to himself. Do you tell him thank you and move on preparing the return, or would you respond differently?
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