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S
SL855
Level 4
March 21, 2022
Question

C-Corp (1120) 1099-B Inputs? Tax-Exempt Interest, OID, Bond Premium, etc.

  • March 21, 2022
  • 1 reply
  • 9 views

New client has a C-Corp with a lot of investment categories that I cannot find where to put them. Is there anywhere specific to put these items?

  • Section 897 capital gain
  • Sec 199A dividends
  • Non-dividend distributions
  • Exempt interest dividends
  • Tax-exempt interest
  • Bond premium on tax-exempt bond
  • Acquisition premium
  • Tax-exempt OID
This topic has been closed for replies.

1 reply

sjrcpa
sjrcpa
Level 15
March 21, 2022

Sec 199A divs are N/A for a corporation.

Nondividend distributions are a return of capital and reduce the cost of the investment carried on the Balance Sheet.

The more I know the more I don’t know.
S
SL855Author
Level 4
March 22, 2022

Thanks. I figured the 199A were not applicable on a C-Corp. For all of the other items - especially tax-exempt interest and dividends - do we just input them as regular income and then adjust on the state return? There aren't nearly as many specific places to put these things compared to other return types.

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