I received a 1099-DIV from the business bank account, towards my LLC with the LLC's EIN used as the Recipient's TIN. This is valid dividend earned through money market account managed by the bank. I am not clear on where and how to report this using Turbo Tax desktop.
Personal 1099-DIVs are covered in personal income section and that is straightforward.
I don't see a specific section for 1099-DIV in the business income section. Appreciate advice on how to proceed correctly.
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If you are filing your business income and expenses on Schedule C, just report the dividend income the same way you would if it was reported to you using your Social Security #. If you are filing Form 1120-S, you report as Other Income,
that dividend/interest income earned through your LLC business account is still portfolio income reported on Schedule B even if the LLC elected to be taxed as an S-corp the dividend would still flow to schedule B.
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