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CA dividend from S coporation E&P that is different from Federal amount

February 16, 2017 • Weil and Company LLP • Log In to Post Comments

An California S corporation made distribution out of C corp E&P. However, the California AAA before the distribution is less than federal AAA. So California taxable distributions is bigger than federal taxable ditributions.

We are going to file 1099-DIV to the IRS with the federal taxable distributions.

But, How should we file in Cailfornia FTB ? is there a separate form for Califronia Dividend?


Comments

If filing a paper 1099, although the instructions are to not file with the state as the information comes from the IRS, in the case of 1099MISC, you would file a CA paper form if the amount is different. I believe the same would hold true for the 1099DIV

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