1041-US: The qualified dividend amount on Schedule K-1, box 2b is not equal to Form 1041, line 2b(1) (FAQ)

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Question

Why is the qualified dividend amount on Schedule K-1, box 2b not equal to Form 1041, line 2b(1)?

Answer

The amount on Schedule K-1, box 2b (Qualified dividends) is the portion of box 2a (Ordinary dividends) that is qualified. Since box 2a is net of allocated expenses, box 2b is also net of allocated expenses. Because the amount on Form 1041, line 2b(1) is before allocated expenses, these amounts are not often equal.

Related topic: 1041-US: Schedule K-1 FAQs

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