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Can I get advances on future Net ProfitsWe have an LLC designated as Partnership. We have shown little or no profits for the last 3 1/2 years. Since there has been no net profits, but we are taking distributions (going further in debt in the process) do we list these on the books as "Loans to Officer" or are we suppose to be recognizing these distributions as "Personal Income" on our K1s. Attorney answers (0)No Attorney answers yet.Most questions get answered by a lawyer within a few hours. Until then, the questions below might help you. Related Questions4 Attorney answers: 
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