TaxGuyBill
Level 15
02-23-2023
01:12 PM
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If they took money out of the corporation, the C-corporation needed to file a W-2 and/or a 1099-DIV to the employee/shareholder. Then the W-2 and/or 1099-DIV is entered on the 1040.
Because a C-corporation pays its own taxes (unlike a "pass-through" entity like a S-corporation or Partnership), nothing is entered on the 1040 besides the W-2 and/1099-DIV that the shareholder received.