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Posted by 0b3hks001 on February 27, 2007, 3:17 pm
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The S corporation pays a dividend out of prior-years'
earnings. From the Corporation's standpoint, this is a
dividend. From the tax standpoint, this is a "distribution"
that is not taxable to the shareholder.
So my question is whether this needs to be reported on the
1099-DIV? If yes, does this go in Box 3 "Nondividend
distributions"?
TIA
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