federal tax paid on 1099Int

[Anglis]

Hello everyone,

Happy Tax Season. Can anyone tell me how to show the federal tax that was paid on a 1099 Int statement that was issued to an S corporation. I know it will go on K1 but cannot seem to find line to put on.

Thank you

[dascpa]

I never had this situation but I'm guessing it does not go on the K-1 as there would be no tracing of it to the stockholders.  I think it should go on the S Corporation Information Worksheet, Part III, Additional Payments as this would be refunded back to the entity.  Opinions?

[itonewbie · Accepted solution]

Sounds like a backup withholding.

If so, that should go to Box 13 of the K-1 with Code O.

On the F.1040, this will flow through to Line 25c.

[Anglis]

Thank you Sir,

That worked.

[itonewbie]

NP, @Anglis!