How do I record an owner distribution from my small business to myself in Quicken 2017

I own a small S corp and am taking an owner distribution. How do I record this distribution in Quicken so that the non-taxable status is maintained?

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  • Thank you both Frankx and Tom. In fact the S-Corp books are kept in Quickbooks. Only my personal information is kept in Quicken. The distribution will be reported on Schedule K, line 16d as recorded in Quickbooks. However, I am looking for a simple way to enter this in Quicken without showing it as taxable. Thank you.
  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    "However, I am looking for a simple way to enter this in Quicken without showing it as taxable."
    That's what the entry we've both suggested will accomplish.  There will be no entry to a "Category", (income and expense), only an entry to an "Account" (balance sheet).  If you ever reduce your basis to below $0 because of these distributions at that point you'll have taxable capital gains.
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