How to report a 1099 Div and associate it with a pass through LLC Business

[isabel1]

There seems to be no way of associating a 1099 Div to a business.  How do I do it?

[dascpa]

Go to the Schedule K worksheet.  You'll see lines for data entry for dividends, qualified dividends, etc.  There are some items that need special entries elsewhere - foreign taxes, capital gain distributions, etc.  

[isabel1]

This is a pass through .  I was hoping to do it on the individuals tax return and filing a business as a llc.  If I use the schedule k worksheet wouldn’t that necessitate me filing the llc as a separate entity outside the personal return?

[sjrcpa · Accepted solution]

You're skimpy on details.

Are you doing a 1040? And The taxpayer has a SMLLC which has an investment account in its name?

If so, the SMLLC is disregarded. Enter the 1099-DIV just as you would if it was in the taxpayer's name.

If I guessed wrong on the facts, please elaborate.

[qbteachmt]

Is the LLC "pass through" or "disregarded?"

That's the difference. The business doesn't matter. The Entity type matters; which tax form(s) and/or schedule are you working on? Also, it would help to know if that 1099-Div is for the taxpayer's SSN, or the Entity EIN.

[isabel1]

It is disregarded and has the entity ein .

[isabel1]

Yes I am doing a 1040. and the 1099 has the entity tax id number.  the llc is disregarded.  

Thanks for your help

[sjrcpa]

Then do what I said.