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.
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.
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.