We have a S Corp that received dividends last year. I read from IRS that Corporations are eligible for Dividend Received Deduction with variable percentages. The S corp is 100% owned by an individual.
Can the S Corp claim Dividend Received Deduction? I did not see any place we can make the deduction in Turbo Tax. Or we should just report the portion of dividends after deduction?
Thank you very much.
@zhengqipeng wrote:Can the S Corp claim Dividend Received Deduction?
No. The DRD does not apply to S corporations (which are pass-through entities).
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