Can a distribution of a S-corp be cancelled after it had been made?
Scorp sole owner took a distribution of $5,000 in 2018. But then he thought it was a mistake afterwards and there should not be a distribution. Therefore, he wrote a check of $5,000 to pay the same amount back to the Scorp.
By doing that, has he effectively cancelled the distribution and therefore there was no distribution in the first place?