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what screen on lacerete do i enter dividends paid in for form 1120s
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yes on their balance sheet it showed dividend paid in
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These are not Chat sessions with customer support. You've started this same issue in 4 topics, now. You keep asking the same people, and they are already answering. Please, stop posting it again and again. And it helps if you use more descriptive titles. Everyone else here is busy, too, so using something other than "tax help" or "entry screen" would let them know if your issue even is something they might be able to help with. Thanks.
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Okay. Here are the details, its a 1120s using lacerte software.their balance sheed states that there are dividents paid in. So i couldnt find a screen or line to support that.
Are u will to help me with this issue?
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What line?
And Lacerte has a snifty feature... go to where that info/amount is showing, then right click & "jump to input" to see where it is coming from.
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Is there a connection?
https://accountants.intuit.com/community/lacerte-tax-discussions/discussion/tax-help/00/284814
To reiterate previous comments; you need a mentor and/or CPE on S-Corp preparation.
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"i couldnt find a screen or line to support that."
For "paid in:" Is this dividend from an investment, such as stock shares from a publicly traded entity? From a subsidiary or sub-corporation of the S Corp, or a dba? What type of entity or holding is throwing off dividends to this S Corp, in other words?
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I have used this advise for years.
Answers are easy.
Questions are very difficult.
The question should include the whole concept, with intimate details and use full and complete sentences.
Answers are easy. Questions are hard!
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Ok here is the details:
a balance sheet having an amount for dividends paid in.
i am working with lacerte, i tried to input it on sck k ordinary dividends but i dont think it is right.
MY QUESTION IS : where on lacerte would you input dividends paid in for 1120s form ?
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"a balance sheet having an amount for dividends paid in."
That's isn't a detail. That is how your taxpayer client communicated something to you, and that doesn't tell you/us enough. For instance, you might be looking at Banking deposit and an Equity increase? Or a dividend is seen in Income. There is no info as to the nature of this inflow, in other words.
"i tried to input it on sck k ordinary dividends but i dont think it is right."
Whose dividends were these; where from and why? How does that relate to the S Corp?
"MY QUESTION IS : where on lacerte would you input dividends paid in for 1120s form ?"
Again, until there is some relational perspective for the source of these amounts, and for why they are being paid in to this S Corp, there is no answering this question for you.
The word dividend can be used by a lot of people in a lot of ways. Example: An electricity coop issues "dividend checks" at year end. Your S Corp client holds an investment via stock shares that are kicking out dividends.Your S Corp is an investor in another entity, and they paid out "dividends" that are really some sort of interest or return on investment, or earnings. Or, it's from participating in a crypto farm.
We don't know enough. You need to perform due diligence because your taxpayer hasn't given you enough info. Did they give you a 1099-Div that reflects these amounts?
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No they didnt , and they are claiming its no any form of withdrawal that i can use as a distribution. So i am kind confused on why would they have pain in dividends on their BS equity
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"they are claiming its no any form of withdrawal"
That's fine; there isn't always a requirement for documentation.
But now you are phrasing this as "withdrawal" which is the opposite of "paid in."
Even without paper, these people need to talk to you about it.
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