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Level 2
posted Aug 22, 2022 9:00:01 AM

Can S Corp claim dividend exclusion for the dividend it received?

We have a S Corp that received dividends last year. I read from IRS that Corporations are eligible for Dividend Received Deduction with variable percentages. The S corp is 100% owned by an individual.

Can the S Corp claim Dividend Received Deduction? I did not see any place we can make the deduction in Turbo Tax. Or we should just report the portion of dividends after deduction?

 

Thank you very much.

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1 Best answer
Level 15
Aug 22, 2022 9:04:59 AM

@zhengqipeng wrote:

Can the S Corp claim Dividend Received Deduction? 

No. The DRD does not apply to S corporations (which are pass-through entities).

2 Replies
Level 15
Aug 22, 2022 9:04:59 AM

@zhengqipeng wrote:

Can the S Corp claim Dividend Received Deduction? 

No. The DRD does not apply to S corporations (which are pass-through entities).

Level 2
Aug 22, 2022 10:20:38 AM

Thank you.