C-corp rec'd K-1, dividends and foreign tax paid

Forum|Forum|2 years ago
October 3, 2023
1 reply
8 views

I need some help on entry of a K-1 a C-corp received. I have a couple boxes that I can't figure out where to enter. The first is dividends (boxes 6a and 6b) and the other is foreign taxes paid (box 21). If I try to enter these outside of the K-1 screen, my retained earnings and net income are incorrect.

Thanks for the help!

Lacerte Tax

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K

Karl

Intuit Community Champion

I don't regularly do C-Corps, but I tried to nose around and find some info on this for you. Can you provide more info on what screens you've tried to input this on so I or others can better weigh in? I assume you've tried the various inputs on Screens 18 & 30?

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C

Charper1841Author

Level 3

Thanks for the reply! I've entered the K-1 in screen 16...but you can see that there are no places to enter Box 6a and 6b or Box 21. I then thought maybe you enter the dividends in screen 13 and the foreign taxes in screen 30...but I don't have sufficient information to fill out where the foreign tax income came from on the K-1. Neither of those screens will affect retained earnings and the foreign tax credit doesn't affect the net income...which is leaving both of them out of balance.

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