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PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 4099
Experience:  35 years tax experience, including four years at a Big 4 firm.
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I took a profit distribution of $10,000 from my 100%-owned C

Customer Question

I took a profit distribution of $10,000 from my 100%-owned C Corporation that I have owned for 5 years. Can I claim this as $10,000 as a "Qualified Dividend" on schedule B of my 2014 U.S. Individual Income Tax Return or is this considered an "Ordinary
Dividend" and why?
Submitted: 1 year ago.
Category: Tax
Expert:  PDtax replied 1 year ago.
Hi from just answer. I'mCustomer and can assist.
Your dividends qualify as qualified.
www.irs.gov/publications/p17/ch08.html#en_US_2014_publink1000171584 reports the list, but your ownership of a domestic for profit corporation for years qualified the dividend.
Thanks for asking at just answer. Positive feedback is appreciated. I'mCustomer