Explore the 1,000’s of tax questions answered by professionals.

Back to

QUESTION DETAIL

Related User

Votes

An S-corp held short-term investments in a brokerage account and received a 1099 for dividends and tax exempt interest. Should this be reported on the 1120S and if so, where?


ANSWER


Expert Marc Groman's Answer:

Yes it should be reported in the 1099 was send to the S corp with the correct Tax ID number. It needs to be reported on Schedule K.

Marc Groman, CPA

New Jersey

38 yrs experience

  • Currently /5 Stars.
  • 1
  • 2
  • 3
  • 4
  • 5
9 Ans.

COMPANY INFORMATION




We do not offer or provide any investment advice or services or opinion regarding the nature, potential, value, suitability or profitability of any particular security, portfolio of securities, transaction or investment strategy.

Copyright © 2024 BIDaWIZ, Inc. Privacy Policy | Terms & Conditions