
Anonymous
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Business & farm
good that you told us what type of business you have. your C Corp was required to file form 1096 with form 1099 for the distribution with the IRS. it's a dividend. On your 1040 you will report it on schedule B as dividend income. if it's a domestic C Corp, i would also note on the 1099 input form or question that it is a qualified dividend. This is true if the C-Corp had earnings and profits. the computation of e&p is somewhat complicated but generally if you have retained earnings that's your E&P
this gets reported on the same 1040 as your w-2. you seem to be saying you already filed your 1040 reporting only the W-2. if this is the case you need to amend
‎December 9, 2020
10:20 AM