How do I enter a Form 1120-IC-DISC? (2024)

• TurboTax Self Employed Online

‎April 16, 20236:00 PM

You need to enter different lines in different places.

To enter your Schedule K Form 1120-IC-DISC in TurboTax you can follow these steps:

1. Within your tax return, use the magnifying glass icon to search 1099-DIV and click the Jump to link that appears in the results
2. Select Okay! On the screen Time to kick off your investments! OR Yes on the screen Did you receive any dividend income? then Continue
   • If you see the screen Your investments & savings or Here's your 1099-DIV info, select Add investments or Add another 1099-DIV, then Continue
3. Select Change how I enter my form, select 1099-DIV, then Type it in myself on the following screen
4. Use the nameand EIN listed for the IC-DISC in the lower right box on your Schedule K to complete the payer information
5. Enter the amount from line 5 of your Schedule K into Box 1a - Total ordinary dividends and Continue
6. Click None of these apply and Continue
7. Use the magnifying glass icon to search other reportable income and click the Jump to link that appears in the results
8. Click No and Continue
9. Scroll down to Other reportable income and click Start
10. Click Yes
11. On the Other Taxable Income screen, enter the name of the IC-DISC in the description and the result of line 5 minus line 3 on your Schedule K as the amount.
12. Proceed entering/reviewing your return.

@lnoecker

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See this IRS info

https://www.irs.gov/instructions/i1120icd#en_US_202112_publink1000278281

You need to enter different lines in different places.

To enter your Schedule K Form 1120-IC-DISC in TurboTax you can follow these steps:

1. Within your tax return, use the magnifying glass icon to search 1099-DIV and click the Jump to link that appears in the results
2. Select Okay! On the screen Time to kick off your investments! OR Yes on the screen Did you receive any dividend income? then Continue
   • If you see the screen Your investments & savings or Here's your 1099-DIV info, select Add investments or Add another 1099-DIV, then Continue
3. Select Change how I enter my form, select 1099-DIV, then Type it in myself on the following screen
4. Use the nameand EIN listed for the IC-DISC in the lower right box on your Schedule K to complete the payer information
5. Enter the amount from line 5 of your Schedule K into Box 1a - Total ordinary dividends and Continue
6. Click None of these apply and Continue
7. Use the magnifying glass icon to search other reportable income and click the Jump to link that appears in the results
8. Click No and Continue
9. Scroll down to Other reportable income and click Start
10. Click Yes
11. On the Other Taxable Income screen, enter the name of the IC-DISC in the description and the result of line 5 minus line 3 on your Schedule K as the amount.
12. Proceed entering/reviewing your return.

@lnoecker

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"