Knowledge Base

10842: 1120S - Interest and Dividends Entry

1120S S corporation

Where do I enter interest and dividend income for an 1120-S return?

Interest income derived in the ordinary course of the corporation's trade or business, such as interest charged on receivable balances, can be entered on INC screen, line 5, Other Income.

Interest and dividends that are considered portfolio income are entered on the K screen, lines 4, 5a, and 5b.

Note: Lines 4, 5a, and 5b on screen K are adjustment lines and will adjust entries flowing from other screens. See field help (F1) for more information on other screens that may be involved.

For more information on the types of income entered see the line instructions for the 1120-S return in the Instructions for Form 1120-S.

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