100 Schedule H: 100 Schedule H, Dividend income Deduction (2024)
California · FTB · Used for tax years 2024
California Schedule H (100) calculates the dividend income deduction and is attached to Form 100. It reports intercompany dividends that qualify for elimination and deductible dividends paid to a corporation by an insurance company.
Who files this form
California Schedule H (100) is attached to Form 100 to report:
- Elimination of intercompany dividends under R&TC Section 25106, in Part I.
- A deduction for dividends paid to a corporation by an insurance company under R&TC Section 24410, in Part II.
For Part II, ownership of the dividend payer must be at least 80%.
What you'll need
Have Form 100 and the information needed to complete Schedule H ready:
- Corporation name and California corporation number.
- Names of each dividend payer and dividend payee.
- For Part I: total dividends received, the amount qualifying for 100% elimination, and how much of that qualifying amount came from current-year versus prior-year earnings and profits.
- For Part II: ownership percentage, total insurance dividends received, and the qualified dividend percentage.
Attach additional sheets if necessary. The form refers to instructions for the qualified dividend percentage, but no instructions were provided here.
How to file
Attach the completed 2024 Schedule H to Form 100. Attach additional sheets if necessary.
- Part I: Total each column on line 4. Enter the total from line 4, column (d), on Form 100, Side 2, line 10.
- Part II: Multiply column (d) by column (e) to calculate qualified insurance dividends in column (f). Enter 85% of column (f) in column (g). Total column (g) on line 4 and enter that total on Form 100, Side 2, line 11.
The supplied form does not give a mailing address or e-file directions.
Common mistakes
- Do not forget to attach Schedule H to Form 100 and include additional sheets if necessary.
- For Part II, note that ownership of the dividend payer must be at least 80%.
- Do not overlook the instruction reference for Part II, column (e), the qualified dividend percentage. That percentage is not supplied in the form text.
Questions people ask
What tax year is this Schedule H for?
This version is for taxable year 2024.
Where do I report the intercompany dividend elimination total?
Enter the total from Part I, line 4, column (d), on Form 100, Side 2, line 10.
What ownership percentage does Part II require?
Part II states that ownership of the dividend payer must be at least 80%.
How is the deductible insurance dividend amount calculated?
Multiply total insurance dividends in column (d) by the qualified dividend percentage in column (e). Enter the result in column (f), then enter 85% of that amount in column (g).