Dividend income 12,000 where would that be included on this Dividend Income and Inclusions PRIOR YEAR AMOUNT From Domestic Corporation Subject to 50% deduction Subject to 65% deduction Debt Financed Stock Dividends received (20% or more owned) Percentage of deduction (xx.xx) Dividends received (less than 20% owned) Percentage of deduction (xx.xx) Certain Preferred Stock Subject to 23.3% deduction Subject to 26.7% deduction From Foreign Corporations Subject to 50% deduction Subject to 65% deduction Nontaxable Dividends From wholly owned foreign subsidiaries From domestic corporations received by a small business investment company From affiliated group members From certain FSCs Foreign-source portion received from a specified 10%-owned foreign corporation (excluding hybrid dividends) [Override] Subpart F inclusions derived from the sale by a CFC of the stock of a lower-tier foreign corporation treated as a dividend [Override] Fully Taxable Dividends From foreign corporations not included elsewhere (including hybrid dividends) [Override] Other inclusions from CFCs under subpart F [Override] Gross-up for foreign taxes deemed paid IC-DISC and former DISC not included above Other dividends Deduction for dividends paid on certain preferred stock of public utilities Dividends [Override]

The $12,000 dividend income received from a domestic corporation would be reported under the section titled "Dividend Income and Inclusions" on the corporation's tax return. Depending on the ownership percentage TESLA has in the corporation paying the dividends, the dividends would be reported in one of the following categories: - "Dividends received (20% or more owned)" if TESLA owns 20% or more of the corporation paying the dividends. The percentage of the deduction that TESLA is eligible for would be entered in the "Percentage of deduction" field next to it. For corporations owning 20% or more but less than 80%, the deduction is typically 65%. - "Dividends received (less than 20% owned)" if TESLA owns less than 20% of the corporation paying the dividends. The percentage of the deduction that TESLA is eligible for would be entered in the "Percentage of deduction" field next to it. For corporations owning less than 20%, the deduction is typically 50%. If TESLA is subject to the 50% deduction, it would report the $12,000 under "From Domestic Corporation Subject to 50% deduction." The specific line on the tax form for reporting this amount may vary depending on the form's layout, but it would be within the section for dividend income. It's important to note that these deductions are a part of the dividends-received deduction (DRD),

Get Started

Get your tax questions answered