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namaste364
Level 2
posted
‎January 20, 2021 12:56 PM
last updated ‎January 20, 2021 12:56 PM

Dividends declared/paid TurboTax Business Incorporated.

I want to pay shareholders a dividend that is goes on their income for 2020 and enter this in TT Business Inc..

 

So I have added the dividend amount at line 2962 as dividends declared and also at line 3701 as dividends paid. It is also on line 450 on schedule 3. Is this correct? Or should it not go on line 2962 if the dividends are paid and just be taken off line 1000 for cash and deposits?

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1 Comment 1
ProFile Duncan
ProFile Team
ProFile Team
‎January 25, 2021 09:59 AM

Dividends declared/paid TurboTax Business Incorporated.

Hi, thank you for using Intuit ProFile Community

The actual balance sheet entries depend on the facts in the situation. The balance sheet, s100, and schedule 3 entries may both be required. 

Hope this helps

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