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posted Jun 5, 2019 10:17:08 PM

Reporting income from a C corporation from which I have never receive a dime?

I own shares in a C corporation. The corporation has a bank account generating interest which I am not receiving any part of. Am I still supposed to report my share of these bank account interests as passive income and which form would I need to use to do that?

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Expert Alumni
Jun 5, 2019 10:17:10 PM

No. The only income you would report from a C corporation would be dividends, and those would be reported to you on a 1099-DIV.  Unlike an S-Corp, a C corporation is not a flow through entity.  The C-Corp pays it's on taxes, whereas an S-Corporation's taxes flow through to the shareholders via a K-1 and are reported on Form 1040.


1 Replies
Expert Alumni
Jun 5, 2019 10:17:10 PM

No. The only income you would report from a C corporation would be dividends, and those would be reported to you on a 1099-DIV.  Unlike an S-Corp, a C corporation is not a flow through entity.  The C-Corp pays it's on taxes, whereas an S-Corporation's taxes flow through to the shareholders via a K-1 and are reported on Form 1040.