Enter capital gain dividend distributions?
- Open Screen 16, Dividend Income.
- Enter the Name of Payer.
- Enter the Ordinary Dividends.
- Enter the Capital Gain Distributions.
- Enter the portion of the capital gain distribution that is taxed at the 28% rate in 28% Rate Gain (2d).
- Enter the amount of Section 1202 capital gain in Section 1202 Gain (2c).
- Enter the portion of the capital gain distribution that represents unrecaptured Section 1250 gain in Unrecaptured Section 1250 Gain (2c).
Note: A statement detailing the amount and source of capital gain distributions prints based on the entry in the user option, Interest/Dividends/Capital Gain Distributions Statements or Screen 4, Print Interest, Dividend and Capital Gain Distribution Statement: 1 =No, 2=With the tax return, 3=With worksheets
Enter foreign tax credit for dividend income?
- Open Screen 36, Foreign Tax Credit (1116).
- Enter Name of Foreign Country.
- Click the arrow beside Category of Income (Ctrl+T) and select a category of income.
- Make a note of the number assigned to the foreign activity in the Country list.
- Open Screen 16, Dividend Income.
- Enter the Name of Payer.
- Enter the dividend amount in Ordinary dividends (1).
- Enter the foreign activity number in Number of Form 1116.
- Enter the percentage (.xxxx) or amount of foreign dividends if the amount is different from the total entered in step 7 in Percentage Foreign (.xxxx) or Amount, if different. You may do the same for qualified dividends and capital gain distributions.
- (Optional) Enter the foreign income tax withheld in foreign currency in Foreign Income Tax Withheld (Foreign Currency).
- Enter the Foreign Income Tax Withheld in (U.S. dollars).
- Enter the date foreign taxes were withheld in Date Paid or Accrued.
Enter US government income dividend?
- Open Screen 16, Dividend Income.
- Enter the Name of Payer.
- Enter the Ordinary Dividends.
- Enter the percentage (.xx) or amount of U.S. Bond interest included in Ordinary Dividends for the payer in U.S. Bonds (nontaxable to state) (% or Amount). An entry of 1=100%. If you need to make an entry of $1, enter 1.1