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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
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Experience:  10 years experience
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How do you report withdrawals that are classified as

Customer Question

How do you report withdrawals that are classified as dividend distribution of $11,376 on the 1120? The Capital Stock is common at $21,119. It shouldn't go on Schedule M-2 of the 1120, correct?
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: How do I report cash distribution as a dividend on the 1120
JA: Is there anything else the Accountant should be aware of?
Customer: No
Submitted: 9 months ago.
Category: Tax
Expert:  ABC Accounting Group replied 9 months ago.

Hi. Great Question.

Here is how to report them on the 1120:

Enter total dividends paid to shareholders from accumulated earnings and profits on Line 17c(schedule K only). Report these dividends to shareholders on Form 1099-DIV. Don't report them on Schedule K-1.

Expert:  ABC Accounting Group replied 9 months ago.

Let me know if you have any questions. Thank you.