What is the amount shown in Box 5a on my S corporation Schedule K-1?
Box 5a is your share of ordinary dividends. This amount is reported on Line 3b of Form 1040.
This amount may be attributable to previously taxed earnings and profits (PTEP) in annual PTEP accounts that you have with respect to a foreign corporation. You will need to determine the amount of the ordinary dividends that are attributable to PTEP in your annual PTEP accounts.
This amount may be attributable to previously taxed earnings and profits (PTEP) in annual PTEP accounts that you have with respect to a foreign corporation. You will need to determine the amount of the ordinary dividends that are attributable to PTEP in your annual PTEP accounts.
