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Posted by A Wieser on March 12, 2008, 9:23 am
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Thanks Alan for answering my 5471 questions so far. It's been a great help.
I think I've now figured almost everything out. The only thing I'm not sure
about is where to report the dividends paid by the company on 5471 schedule
C.
If they were to be recorded, they'd have to come out on line 19, but it
doesn't seem that they're an extraordinary item. Are they a prior period
adjustment?
Alternatively, are they just not listed at all, and assumed to have been
paid as the difference between beginning retained earnings and final
retained earnings?
Alternatively, if they don't go on schedule C, do they go somewhere on
Schedule F?
Tony
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Posted by Alan on March 12, 2008, 11:17 am
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A Wieser wrote:
> Thanks Alan for answering my 5471 questions so far. It's been a great
> help.
>
> I think I've now figured almost everything out. The only thing I'm not
> sure about is where to report the dividends paid by the company on 5471
> schedule C.
>
> If they were to be recorded, they'd have to come out on line 19, but it
> doesn't seem that they're an extraordinary item. Are they a prior
> period adjustment?
>
> Alternatively, are they just not listed at all, and assumed to have been
> paid as the difference between beginning retained earnings and final
> retained earnings?
>
> Alternatively, if they don't go on schedule C, do they go somewhere on
> Schedule F?
>
> Tony
>
Typically, it's buried in the difference between Line 20a and 20b
on Schedule F.
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by A Wieser on March 12, 2008, 12:53 pm
Please log in for more thread options >> The only thing I'm not sure about is where to report the dividends paid
>> by the company on 5471 schedule C.
>>
>> Alternatively, are they just not listed at all, and assumed to have been
>> paid as the difference between beginning retained earnings and final
>> retained earnings?
>>
>> Tony
>>
> Typically, it's buried in the difference between Line 20a and 20b on
> Schedule F.
That was what I assumed. Thanks for the corroboration.
Tony
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by jmail7 on March 12, 2008, 2:33 pm
Please log in for more thread options > >> The only thing I'm not sure about is where to report the dividends paid
> >> by the company on 5471 schedule C.
>
> >> Alternatively, are they just not listed at all, and assumed to have been
> >> paid as the difference between beginning retained earnings and final
> >> retained earnings?
The dividends paid would also be shown on Schedule M.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by A Wieser on March 12, 2008, 3:41 pm
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>> >> The only thing I'm not sure about is where to report the dividends
>> >> paid
>> >> by the company on 5471 schedule C.
>>
>> >> Alternatively, are they just not listed at all, and assumed to have
>> >> been
>> >> paid as the difference between beginning retained earnings and final
>> >> retained earnings?
>
> The dividends paid would also be shown on Schedule M.
True, that's there on Schedule M, line 21, but it's only true for category 4
filers.
Tony
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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