Form PA-40 Schedule B "Dividend Income" - Pennsylvania

What Is Form PA-40 Schedule B?

This is a legal form that was released by the Pennsylvania Department of Revenue - a government authority operating within Pennsylvania.The document is a supplement to Form PA-40, Pennsylvania Income Tax Return. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2019;
  • The latest edition provided by the Pennsylvania Department of Revenue;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form PA-40 Schedule B by clicking the link below or browse more documents and templates provided by the Pennsylvania Department of Revenue.

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Download Form PA-40 Schedule B "Dividend Income" - Pennsylvania

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1901510055
PA SCHEDULE B
Dividend Income
PA-40 B 05-19 (FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
CAUTION: Federal and PA rules for dividend income are different. Read the instructions.
If your total PA-taxable dividend and capital gains distributions income (taxpayer, spouse and/or joint) is equal to the amount reported
on your federal return and does not include any amounts for Lines 2 through 11 (not including subtotal Line 6) of PA Schedule B, you
must report your income on Line 3 of the PA-40, but you do not have to submit PA Schedule B. If there are any amounts (taxpayer,
spouse and/or joint) for any of the Lines 2 through 11 (not including subtotal Line 6), you must complete and submit PA Schedule B with
your PA-40. A taxpayer and spouse must complete separate schedules to report their income if any amounts are reported on Lines 2
through 11 (not including subtotal Line 6) of Schedule B. However, if all the income is earned on a joint basis, one schedule may be
completed. Complete the oval to indicate whether the income included on the schedule is from the taxpayer, spouse or joint. If a
separate PA Schedule B is prepared for a taxpayer and spouse, include only the taxpayer or spouse share of the income for each line.
PA SCHEDULE B – PA-Taxable Dividend and
Capital Gains Distributions Income
(See the instructions.)
Taxpayer
Spouse
Joint
1. $
1. Dividend income from Line 3b of your federal return. See instructions.
2. $
2. Dividend income from federal Schedule K-1(s). See instructions.
3. $
3. Pennsylvania exempt-interest dividend income. See instructions.
4. Other reduction adjustments. See instructions.
4. $
Description:
5. $
5. Add the amounts on Lines 2, 3 and 4.
6. $
6. Subtract Line 5 from Line 1.
7. Total exempt-interest dividends. See instructions.
7. $
8. Other addition adjustments. See instructions.
8. $
Description:
9. Repatriation of foreign income. See instructions.
a. Total earnings and profits included on Line 1 of
IRC Section 965 Transition Tax Statement.
9a.
b. Total payments of earnings and profits included
in Line 9a received in prior years.
9b.
9c. $
c. Payments of earnings and profits included in Line 9a received in current year.
10. $
10. Capital Gains Distributions - See instructions.
11. Dividend income from PA S corporation(s) and partnerships, reported on your
11. $
PA Schedule(s) RK-1 or federal Schedule(s) K-1.
12. Total PA-Taxable Dividend Income. Add Lines 6, 7, 8, 9c, 10 and 11.
12. $
Enter on Line 3 of your PA-40.
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1901510055
PA SCHEDULE B
Dividend Income
PA-40 B 05-19 (FI)
2019
PA Department of Revenue
OFFICIAL USE ONLY
START
Name shown first on the PA-40 (if filing jointly)
Social Security Number (shown first)
CAUTION: Federal and PA rules for dividend income are different. Read the instructions.
If your total PA-taxable dividend and capital gains distributions income (taxpayer, spouse and/or joint) is equal to the amount reported
on your federal return and does not include any amounts for Lines 2 through 11 (not including subtotal Line 6) of PA Schedule B, you
must report your income on Line 3 of the PA-40, but you do not have to submit PA Schedule B. If there are any amounts (taxpayer,
spouse and/or joint) for any of the Lines 2 through 11 (not including subtotal Line 6), you must complete and submit PA Schedule B with
your PA-40. A taxpayer and spouse must complete separate schedules to report their income if any amounts are reported on Lines 2
through 11 (not including subtotal Line 6) of Schedule B. However, if all the income is earned on a joint basis, one schedule may be
completed. Complete the oval to indicate whether the income included on the schedule is from the taxpayer, spouse or joint. If a
separate PA Schedule B is prepared for a taxpayer and spouse, include only the taxpayer or spouse share of the income for each line.
PA SCHEDULE B – PA-Taxable Dividend and
Capital Gains Distributions Income
(See the instructions.)
Taxpayer
Spouse
Joint
1. $
1. Dividend income from Line 3b of your federal return. See instructions.
2. $
2. Dividend income from federal Schedule K-1(s). See instructions.
3. $
3. Pennsylvania exempt-interest dividend income. See instructions.
4. Other reduction adjustments. See instructions.
4. $
Description:
5. $
5. Add the amounts on Lines 2, 3 and 4.
6. $
6. Subtract Line 5 from Line 1.
7. Total exempt-interest dividends. See instructions.
7. $
8. Other addition adjustments. See instructions.
8. $
Description:
9. Repatriation of foreign income. See instructions.
a. Total earnings and profits included on Line 1 of
IRC Section 965 Transition Tax Statement.
9a.
b. Total payments of earnings and profits included
in Line 9a received in prior years.
9b.
9c. $
c. Payments of earnings and profits included in Line 9a received in current year.
10. $
10. Capital Gains Distributions - See instructions.
11. Dividend income from PA S corporation(s) and partnerships, reported on your
11. $
PA Schedule(s) RK-1 or federal Schedule(s) K-1.
12. Total PA-Taxable Dividend Income. Add Lines 6, 7, 8, 9c, 10 and 11.
12. $
Enter on Line 3 of your PA-40.
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2019
Pennsylvania Department of Revenue
Instructions for PA-40 Schedule B
Dividend Income
PA-40 B IN 05-19
of the income from the jointly owned accounts on each PA-
GENERAL INFORMATION
40 Schedule B.
PURPOSE OF SCHEDULE
An amended PA Schedule B must be included with Sched-
ule PA-40 X if increases or decreases in income amounts
Use PA-40 Schedule B to report the amount of dividend in-
on PA Schedule B are discovered after an original or other
come earned and reported for federal income tax purposes
amended return is filed with the department. Section III on
from:
Page 2 of Schedule PA-40 X must be completed to explain
● U.S. corporations;
any increase or decrease to the amount of dividend income
● Foreign corporations;
reported on an amended PA-40, Personal Income Tax Re-
turn.
● Mutual Funds;
● Other corporate capital investments.
SCHEDULE INSTRUCTIONS
PA-40 Schedule B also adjusts the federal income to deter-
IDENTIFICATION INFORMATION
mine the PA-taxable dividend income by reporting income
and adjustments from:
NAME
● Capital gains distributions;
Enter the name of the taxpayer. If a jointly filed return, enter
● S corporations not electing to be taxed as an S corpo-
the name of the primary taxpayer (name shown first on the
PA-40, Personal Income Tax Return). Enter the primary tax-
ration for PA tax purposes;
payer’s name when reporting the dividend income for the
● Exempt-interest dividends from other states bonds; and
spouse.
● Various other increase and decrease adjustments in-
cluded in the following instructions.
SOCIAL SECURITY NUMBER
Enter the Social Security number (SSN) of the taxpayer.
Refer to the PA Personal Income Tax Guide – Dividends
Enter the primary taxpayer’s SSN also when reporting divi-
section for additional information.
dend income for the spouse.
TAXPAYER OVAL
RECORDING DOLLAR AMOUNTS
Complete the taxpayer oval to indicate the dividend income
Show money amounts in whole-dollars only. Eliminate any
reported is from the taxpayer whose name appears on the
amount less than $0.50 and increase any amount that is
name line.
$0.50 or more to the next highest dollar.
SPOUSE OVAL
Complete the spouse oval to indicate the dividend income
WHO MUST COMPLETE
reported was earned by the spouse listed on a PA-40, Per-
sonal Income Tax Return, filed using the Married, Filing
PA resident and part-year resident taxpayers must complete
Jointly filing status.
and include PA-40 Schedule B with an originally filed PA-40,
Personal Income Tax Return, if there are any amounts on
JOINT OVAL
Lines 2 through 11 (not including subtotal Line 6). If there
Complete the joint oval if all the dividend income reported
are no amounts on Lines 2 through 11 (not including subtotal
by the taxpayer and spouse is earned and being reported
Line 6), do not complete and include PA-40 Schedule B with
on a joint basis.
the PA-40, Personal Income Tax Return. However, the
amount of dividend income received must be reported on
NOTE: Do not use the joint oval to report joint dividend
Line 3 of the PA-40. Nonresident taxpayers are not required
income if any dividend income is earned by the tax-
to complete PA-40 Schedule B.
payer and/or spouse separately. In such cases, the joint in-
come must be split and the taxpayer and spouse must show
Separate schedules must be completed for a taxpayer and
the separate share of the joint dividend income on the sep-
spouse if either has income on Lines 2 through 11 of PA
arate PA-40 Schedule B prepared for each.
Schedule B (not including subtotal Line 6). Both schedules
must be completed and included even if only one had
LINE INSTRUCTIONS
amounts on those lines. A joint PA-40 Schedule B may be
completed only if all amounts of interest income are earned
IMPORTANT: If a separate PA-40 Schedule B is pre-
on a joint basis. If some income is earned on a joint basis
while other income is not, the joint income must be split and
pared for a taxpayer and spouse, include only the tax-
the taxpayer and spouse must report their separate share
payer or spouse share of the dividend income for each line.
www.revenue.pa.gov
PA-40 B
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IMPORTANT: If a federal return is not required to be
LINE 1
filed, enter on this line the amount of dividend income
reported in Box 1 of all federal Forms 1099-DIV, Dividends
Enter the amount of dividend income reported on Line 3b
and Distributions, as well as any other federally taxable div-
of the federal return. If filing a joint return and required to
idend income received from all sources including, but not
show the dividend income for a taxpayer and spouse sep-
limited to, dividends from federal Schedule K-1s.
arately, enter only the taxpayer or spouse’s portion of the
dividend income reported on Line 3b of the federal return.
LINE 9
If a federal return is not required to be filed, see the instruc-
tions for Line 8.
As a result of the federal Tax Cuts and Jobs Act of Dec. 22,
2017, additional dividend income may have to be included
LINE 2
for Pennsylvania personal income tax purposes on income
that was subject to the federal Repatriation Transition Tax
Enter the total amount of dividend income included on Line
on the IRC Section 965 Transition Tax Statement for 2017.
5 of federal Schedule B from federal Schedule(s) K-1.
Although the total deemed dividend of accumulated earn-
ings and profits taxed for federal income tax purposes is not
LINE 3
includable in Pennsylvania taxable income, the amount of
actual earnings and profits cash payments received during
Enter the total amount of any tax-exempt dividends from di-
a tax year are taxable for Pennsylvania personal income tax
rect obligations of the Commonwealth of Pennsylvania, di-
purposes. Refer to Informational Notice Corporation Taxes
rect obligations of political subdivisions of Pennsylvania
and Personal Income Tax 2018-1: Tax Cuts and Jobs Act of
and/or direct obligations of the U.S. Government (U.S.
2017, available on department’s website for additional infor-
Treasury Bonds, Notes, Bills, Certificates and Savings
mation regarding the repatriation of foreign income.
Bonds) included in any tax exempt fund or money market
fund dividends.
LINE 9a
Enter the amount of deemed dividend foreign earnings and
LINE 4
profits reported on Line 1 of the IRC Section 965 Transition
Tax Statement for calendar or fiscal year tax returns for
Enter any other adjustments that decrease PA dividend in-
2017.
come and provide a description of the amounts. Examples
would include, but are not limited to: dividend income for a
LINE 9b
part-year resident taxpayer during the period the taxpayer
Enter the amount of cash payments of foreign earnings and
was a nonresident; nominee capital gains distributions; and
profits received in prior tax years attributable to the amount
dividend income from an irrevocable federal grantor trust
reported on Line 9a that were previously reported as divi-
that is required to file a PA-41, Fiduciary Income Tax Re-
dend income for Pennsylvania personal income tax pur-
turn. Do not include expenses incurred to realize dividend
poses.
income.
IMPORTANT: If no amount of repatriated foreign earn-
ings was reported on the 2018 PA-40 Schedule B as
LINE 5
additional dividend income, enter a zero on Line 9b. How-
Add the amounts on Lines 2, 3 and 4 and enter the result.
ever, if cash payments were received during 2017 and/or
2018 attributable to the amount reported on Line 9a and no
LINE 6
income was reported for foreign repatriated income, the
2017 and/or 2018 PA-40 should be amended to include the
Subtract Line 5 from Line 1 and enter the result. The amount
amount received in 2017 on Line 8 of the 2017 PA-40
reported for this line may be a negative number.
Schedule B or the amount received in 2018 on Line 9c of
the 2018 PA-40 Schedule B. The total amount included on
LINE 7
the amended returns should then be included on Line 9b.
LINE 9c
Enter the total amount of any exempt-interest dividends re-
ported in Box 11 of federal Form 1099-DIV, Dividends and
Enter the amount of cash received during the current tax
Distributions, that are included in Line 2a of the federal re-
year that is attributable to the repatriation of foreign income
turn.
included on Line 9a.
CAUTION: Do not include the amount of tax-exempt
CAUTION: Federal Form 1099-DIV, Dividend Income,
interest included in Line 2a of the federal return in this
may not be prepared and sent by the payer for these
amount.
payments. Even if the 1099-DIV is not prepared, the cash
payments received must be reported as dividend income for
Pennsylvania personal income tax purposes.
LINE 8
Enter any other adjustments that increase PA dividend in-
LINE 10
come and provide a description of the amounts. Examples
include, but are not limited to: excessive salary paid to a
Enter the amount of capital gains distributions included as
shareholder; nominee capital gains distributions; distribu-
capital gains on federal Schedule D. If federal Schedule D
tions from non-PA S corporations; and expenses incurred to
is not required, enter the amount of capital gains distribu-
realize dividend income.
tions reported directly on the federal return.
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PA-40 B
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Include the total from Line 12 (or the combined Line 12
LINE 11
amounts for taxpayer and spouse using the Married, Filing
Jointly filing status) on Line 3 of the PA-40, Personal Income
Enter the amount of dividend income from PA S corporations
Tax Return.
and partnerships. Include the amounts reported from all PA
Schedule(s) RK-1, or federal Schedule(s) K-1 if an RK-1 is
not provided.
LINE 12
Add Lines 6, 7, 8, 9c, 10 and 11 and enter the result.
This amount cannot be a negative number. If the result
is negative, an amount has not been included on an
addition line or excess adjustments have been recorded.
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PA-40 B
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