Instructions For Form 1120-Fsc - 2016 Page 12
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14Keep for Your Records
Dividends and Dividends-Received Deduction Worksheet
(See instructions that begin on page 9)
(c)
(a) Dividends
Dividends-received
received
(b) %
deduction: (a) x (b)
1 Dividends from less-than-20%-owned domestic corporations that are subject to
the 70% deduction (other than debt-financed stock) . . . . . . . . . . . . . . . . . . . . .
70
2 Dividends from 20%-or-more-owned domestic corporations that are subject to the
80
80% deduction (other than debt-financed stock) . . . . . . . . . . . . . . . . . . . . . . .
3 Dividends on debt-financed stock of domestic and foreign corporations (section
246A)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
See Inst.
4 Dividends on certain preferred stock of less-than-20%-owned public
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utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5 Dividends on certain preferred stock of 20%-or-more-owned public
utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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6 Dividends from less-than-20%-owned foreign corporations that are subject to the
70
70% deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 Dividends from 20%-or-more-owned foreign corporations that are subject to the
80% deduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
80
▶
8 Total dividends-received deduction. Add lines 1 through 7. See instructions for
limitation. Enter here and on line 19b, Schedule B . . . . . . . . . . . . . . . . . . . . . .
9 Other dividends from foreign corporations not included on line 3, 6, or 7 . . . . . . .
10 Foreign dividend gross up (section 78) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11 Other dividends . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
▶
12 Total dividends. Add lines 1 through 11. Enter here and on
line 9, Schedule F . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule L
If the total adjustment to be entered on
The cost of skyboxes over the face value
line 27 is a negative amount, enter the
of nonluxury box seat tickets.
The balance sheet should agree with the
amount in parentheses.
The part of luxury water travel expenses
FSC's books and records. Include
not deductible under section 274(m).
certificates of deposit as cash on line 1,
Schedule M-1
Expenses for travel as a form of
Schedule L.
education.
Line 5c. Travel and entertainment.
Other nondeductible travel and
Line 5. Tax-exempt securities. Include on
Include on line 5c any of the following:
entertainment expenses.
this line:
Meal and entertainment expenses not
State and local government obligations,
For more information, see Pub. 542.
deductible under section 274(n).
the interest on which is excludible from gross
Line 7a. Tax-exempt interest. Report any
Expenses for the use of an entertainment
income under section 103(a) and
tax-exempt interest received or accrued,
facility.
Stock in a mutual fund or other regulated
including any exempt-interest dividends
The part of business gifts over $25.
investment company that distributed
received as a shareholder in a mutual fund or
Expenses of an individual over $2,000,
exempt-interest dividends during the tax year
other regulated investment company. Also
which are allocable to conventions on cruise
of the FSC.
report this amount on line 2, Additional
ships.
Line 27. Adjustments to shareholders'
Information, on page 2 of the form.
Employee achievement awards over
equity. Some examples of adjustments to
$400.
report on this line include:
The cost of entertainment tickets over
Foreign currency translation adjustments.
face value (also subject to 50% limit under
The excess of additional pension liability
section 274(n)).
over unrecognized prior service cost.
Instructions for Form 1120-FSC (Rev. 12-2016)
-12-
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