Question

Can someone file a schedule D (form 1120) for this C Corporation? What would I put on line 8 of the 1120? This is for 2018 corporate tax return. Thanks

Dividend income is from the following sources:

Big Time Fun (Summer Fun owns 75% of all outstanding stock).............. $7,578

IBM Corp.(owns 12% of all outstanding stock) …................................... 3,120

Voltage, Inc. (owns 25% of all outstanding) …………………...…........ 17,001

Total ......................................................................................................$27,699

Answer 1

Nothing from the given transactions appears on line 8 of form 1120. Line 8 is for capital gains. Given information is related to dividends.

Of the given dividends dividend received deduction is 21,847 computed as follows:

Particulars	Dividends	%	Deduction
Big time fun	7,578	80%	6,062.40
IBM corp	3,120	70%	2,184.00
Voltage	17,001	80%	13,600.80
Total	27,699		21,847.20