Drake Tax - 1120-S: Interest and Dividends
Article #: 10842
Last Updated: October 21, 2024
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.
Interest and dividends that are considered portfolio income are entered on the K screen, lines 4, 5a, and 5b.
Note The K screen entries 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 in the Form 1120-S Instructions.