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Level 2
posted Jun 2, 2020 11:10:09 PM

Dividend Recieved Deduction from K-1

I have a DRD via a k-1.  I know how to make adjustments to a dividend during the 1099 interview - it asks if I need to adjust those dividends - but I see no way to adjust the K-1 entry of Box 6a.  How would I make such an adjustment within the Turbotax program?

 

Thanks!

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1 Best answer
Level 15
Jun 3, 2020 7:24:16 AM

Which type of return are you preparing?

 

The DRD is typically only applicable to dividends received from another corporation (whether or not they are received from a pass-through entity) by a C corporation.

 

See https://www.irs.gov/publications/p542#en_US_201809_publink1000257825

2 Replies
Level 15
Jun 3, 2020 7:24:16 AM

Which type of return are you preparing?

 

The DRD is typically only applicable to dividends received from another corporation (whether or not they are received from a pass-through entity) by a C corporation.

 

See https://www.irs.gov/publications/p542#en_US_201809_publink1000257825

Level 2
Jun 9, 2020 1:00:36 AM

Thanks for the link and the answer.  I'm preparing a personal return via a 1040.  I was confused simply because I conflated "partnership" and "partner" with "corporation".  Sometimes all it takes is a little splash of cold water on the noggin - so thanks for providing it.