Pennsylvania PA Schedule B - Dividend and Capital Gains Income
Extracted from PDF file 2023-pennsylvania-form-pa-20s-pa-65-b.pdf, last modified June 2012
PA Schedule B - Dividend and Capital Gains IncomeIMPORTANT: FILL IN FORM MUST BE DOWNLOADED ONTO YOUR COMPUTER PRIOR TO COMPLETING PA SCHEDULE B Dividend Income and Capital Gain Distributions PA-20S/PA-65 B (DR) 04-23 (FI) PA Department of Revenue START 2308710058 2023 Name as shown on PA-20S/PA-65 Information Return OFFICIAL USE ONLY FEIN 9 DIGIT - NO DASH ➜ If a loss, enter "0" 1 Ordinary dividend income from federal Schedule K 1 2 Less business or rental dividend income (working capital) - report on PA-20S/PA-65 Schedule M, Part I 2 3 Adjusted federal dividend income – subtract Line 2 from Line 1 3 4 Federal-exempt dividend income taxable for PA PIT – itemize below 4 5 Other dividend income not included on Line 3 and Line 4 5 6 Capital gain distributions income 6 7 Gross PA-taxable dividend income – add Lines 3 through 6 7 8 PA-exempt dividend income included on Line 7 – itemize below PA-taxable dividend income and capital gain distributions income – subtract Line 8 from Line 7. Enter the result on the PA-20S/PA-65 Information Return, Page 1, Section III, Line 4. 8 9 9 Federal-exempt dividend income – list sources and amounts PA-exempt dividend income – list sources and amounts 2308710058 RESET FORM TOP OF PAGE 2308710058 NEXT PAGE PRINT THIS PAGE DOES NOT PRINT 2023 Instructions for PA-20S/PA-65 Schedule B PA-20S/PA-65 B IN (DR) 04-23 Dividend Income and Capital Gain Distributions GENERAL INFORMATION LINE INSTRUCTIONS PURPOSE OF SCHEDULE Use PA-20S/PA-65 Schedule B to report dividend income and capital gain distributions of PA S corporations, partnerships and limited liability companies filing as partnerships or PA S corporations for federal income tax purposes. See PA Personal Income Tax Guide – Dividends. LINE 1 Dividend income is any distribution to the entity of cash or property from the accumulated earnings and profits or current earnings and profits of a corporation, association, or business trust. Dividends reported on the PA-20S/PA-65 Information Return and PA-20S/PA-65 Schedule B are total dividends earned by the entity itself. There is no need to distinguish between resident and nonresident portions since dividends are not a class of income on the PA-20S/PA-65 Schedule NRK-1. For Pennsylvania personal income tax purposes, nonresidents are not taxed on dividends from Pennsylvania sources. Dividends are ignored by the nonresident unless the entity has reclassified dividends on PA-20S/PA-65 Schedule M, Part I and PA-20S/PA-65 Schedule B, Line 2 as working capital, in which case it will be included with business or rental income. PENNSYLVANIA TAXABLE DIVIDEND INCOME Pennsylvania law (72 P.S. §7301(f)) provides that dividends mean any distribution in cash or property made by a corporation, association, or business trust that is: ● Out of accumulated earnings and profits; or ● Out of earnings and profits of the year in which such dividend is paid. The term dividends shall not include a distribution of stock of a corporation made by the corporation originally issuing it to its own stockholders if such distribution is not treated as personal income for federal individual income tax purposes. The Pennsylvania definition of dividends is similar, but not identical, to the federal definition. Distributions from mutual funds and money market funds are classified as dividends for Pennsylvania purposes and interest for federal purposes. Distributions from PA S corporations are reportable as dividends by resident shareholders only if they are from PA C corporation earnings and profits. COMPLETING PA SCHEDULE B BUSINESS NAME Enter the complete name of the entity or business as shown on the PA-20S/PA-65 Information Return. FEIN Enter the nine-digit federal employer identification number (FEIN) of the entity or business as shown on the PA-20S/ PA-65 Information Return. ORDINARY DIVIDEND INCOME FROM FEDERAL SCHEDULE K Enter the amount reported on federal Schedule K, Line 6a (federal Form 1065), or Line 5a (federal Form 1120S). This number should also match PA-20S/PA-65 Schedule M, Part I, Line 5, Column (a). Include federal Schedule K-1 dividend income from other entities. LINE 2 LESS BUSINESS OR RENTAL DIVIDEND INCOME (WORKING CAPITAL) Enter the amount reported on PA-20S/PA-65 Schedule M, Part I, Line 5, Column (b) and/or Column (f). LINE 3 ADJUSTED FEDERAL DIVIDEND INCOME Subtract Line 2 from Line 1. Enter the result on Line 3. LINE 4 FEDERAL EXEMPT DIVIDEND INCOME TAXABLE FOR PENNSYLVANIA PERSONAL INCOME TAX Enter the tax-exempt dividend income amount reported on federal Schedule K, Line 18b (federal Form 1065), or Line 16b (federal Form 1120S), “Other tax exempt income.” List the sources and amounts in the spaces provided on the form. LINE 5 OTHER DIVIDEND INCOME NOT INCLUDED ON LINE 3 AND LINE 4 If the entity received dividend income reported on a line other than federal 1065 Schedule K, Line 6a, or federal 1120S Schedule K, Line 5a, then report the income as dividend income for Pennsylvania personal income tax purposes on PA-20S/PA-65 Schedule B, Line 5. The federal Tax Cuts and Jobs Act of 2017 established a tax on untaxed earnings and profits of foreign corporations accumulated after 1986 and prior to 2018, titled the Repatriation Transition Tax (RTT). For Pennsylvania Personal Income Tax, these earnings and profits are taxable when they are actually distributed. Line 5 should include any actual payments of these earnings and profits that were not included in taxable income in a prior year. Provide a statement explaining the nature/source of the payments. For additional information on the RTT, please see Informational Notice Corporation Taxes and Personal Income Tax 2018-1: Tax Cuts and Jobs Act of 2017. www.revenue.pa.gov PREVIOUS PAGE PA-20S/PA-65 B NEXT PAGE PRINT 1 LINE 6 CAPITAL GAIN DISTRIBUTIONS INCOME Enter the amount reported on PA-20S/PA-65 Schedule M, Part I, Column (d), Lines 7, 8 and 11. NOTE: Pennsylvania taxes capital gain distributions from mutual funds as dividends. LINE 7 Regulated investment companies (RIC) that invest in state and local bonds distribute exempt interest dividends. The companies and their shareholders are not taxed on them. Not every RIC that invests in state and local bonds invests exclusively in Pennsylvania state and local bonds. Only federally exempt interest dividends that are derived from Pennsylvania state and local bonds are exempt for personal income tax purposes. Federally exempt interest dividends that are not derived from Pennsylvania state and local bonds are fully taxable for personal income tax purposes. GROSS PENNSYLVANIA TAXABLE DIVIDEND INCOME Add Lines 3 through 6, and enter the result on Line 7. Some federally taxable dividends are Pennsylvania exempt interest dividends. They are derived from federal obligations. LINE 8 LINE 9 PENNSYLVANIA EXEMPT DIVIDEND INCOME INCLUDED ON LINE 7 Enter income reported as federal dividend income that has been taxed federally and is exempt for Pennsylvania purposes. This number can be obtained from entity level books and records. List the sources and amounts in the spaces provided on the form. PENNSYLVANIA TAXABLE DIVIDEND INCOME AND CAPITAL GAIN DISTRIBUTIONS INCOME Subtract Line 8 from Line 7, and enter the result on Line 9. Enter this amount on the PA-20S/PA-65 Information Return, Page 1, Section III, Line 4. 2 PA-20S/PA-65 B PREVIOUS PAGE www.revenue.pa.gov RETURN TO PAGE 1 PRINT
2023 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
More about the Pennsylvania Form PA-20S-PA-65 B Corporate Income Tax TY 2023
We last updated the PA Schedule B - Dividend and Capital Gains Income in January 2024, so this is the latest version of Form PA-20S-PA-65 B, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form PA-20S-PA-65 B directly from TaxFormFinder. You can print other Pennsylvania tax forms here.
Related Pennsylvania Corporate Income Tax Forms:
TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Pennsylvania Form PA-20S-PA-65 B.
|S Corporation/Partnership Information Return (PA-20S/PA-65)
|Form PA-20S-PA-65 Directory
|PA-20S/PA-65 Directory - Partner/Member/Shareholder
|Form PA-20S-PA-65 M
|PA Schedule M - Reconciliation of Federal-Taxable Income (Loss) to PA-Taxable Income (Loss)
|Form PA-20S-PA-65 NRK-1
|PA Schedule NRK-1 - Nonresident Schedule of Shareholder/Partner/Beneficiary Pass Through Income, Loss and Credits
|Form PA-20S-PA-65 NW
|PA Schedule NW - Nonresident Withholding Payments PA S Corporations and Partnerships
|Form PA-20S-PA-65 A
|PA Schedule A - Interest Income
|Form PA-20S-PA-65 CP
|PA Schedule CP - Corporate Partner Withholding
|Form PA-20S-PA-65 D
|PA Schedule D - Sale, Exchange or Disposition of Property Within Pennsylvania
|Form PA-20S-PA-65 E
|PA Schedule E - Rent and Royalty Income (Loss)
|Form PA-20S-PA-65 H
|PA Schedule H - Apportioned Business Income (Loss)/Calculation of PA Net Business Income (Loss)
Pennsylvania usually releases forms for the current tax year between January and April. We last updated Pennsylvania Form PA-20S-PA-65 B from the Department of Revenue in January 2024.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Pennsylvania Form PA-20S-PA-65 B
We have a total of thirteen past-year versions of Form PA-20S-PA-65 B in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2022 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2021 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2020 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2019 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2018 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2017 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2016 PA Schedule B - Dividend Income and Capital Gain Distributions (PA-20S/PA-65 B)
2015 PA Schedule B - Dividend Income and Capital Gain Distribution (PA-20S/PA-65 B)
2014 PA Schedule B - Dividend and Capital Gains Income (PA-20S/PA-65 B)
2013 PA Schedule B - Dividend and Capital Gains Income (PA-20S/PA-65 B)
2012 PA Schedule B - Dividend Income (PA-20S/PA-65 B)
2011 PA Schedule B - Dividend Income (PA-20S/PA-65 B)
While we do our best to keep our list of Pennsylvania Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.