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Dividend Income Deduction — Water’s-Edge Filers

Use the California Tax Form Calculator California Tax Form 100wsh as a stand alone tax form calculator to quickly calculate specific amounts for your 2026 California state tax return. Alternatively, you can use one of our Combined Federal and State Tax Estimators to quickly calculate your salary, tax, and take-home pay.

Dividend Income Deduction — Water’s-Edge Filers
Part I Elimination of Intercompany Dividends (R&TC Section 25106)
(a)
Dividend payer		(b)
Dividend payee
1
2
3
(c)
Total amount of dividends received		(d)
Amount that qualifies for % elimination		(e)
Amount from column (d) paid out of current year earnings and profits		(f)
Amount from column (d) paid out of prior year earnings and profits		(g)
Balance column (c) minus column (d)
1
2
3
4
Enter total amounts of each column on line 4 above. Enter total from Part I, line 4, column (d) on Form 100W, Side 2, line 10
Part II Deduction for Qualifying Dividends Paid to a Member of a Water’s-Edge Combined Report (R&TC Section 24411) (Foreign dividends paid by partially included members of a water’s-edge combined report cannot be computed on this schedule.)
(a)
Dividend payer		(b)
Name of member of the water’s-edge group receiving dividend
1
2
3
(c)
Percentage of ownership of dividend payer		(d)
Amount of qualifying dividends received by payee (see instructions)		(e)
Amount from column (d) paid out of current year earnings and profits		(f)
Amount from column (d) paid out of prior year earnings and profits		(g)
Deductible dividends column (d) X . or % dividends from construction projects
1
2
3
4
Part III Deduction for Dividends Paid to a Corporation by an Insurance Company (R&TC Section 24410)
(a)
Dividend payer		(b)
Dividend payee
1
2
3
(c)
Percentage of ownership of dividend payer (must be at least %)		(d)
Total insurance dividends received		(e)
Qualified dividend percentage (see instructions)		(f)
Amount of qualified insurance dividends column (d) x column (e)		(g)
Deductible dividends % of column (f)
1
2
3
4

Last reviewed: : If you believe this form requires an update, please contact us.

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Frequently Asked Questions

Are stock options/supplemental wages handled specially?

Employers may use supplemental withholding methods; totals still flow into CA taxable income.

Are Social Security benefits taxed by California?

No—California does not tax Social Security benefits.

Can I add extra CA withholding to smooth refunds?

Yes—enter additional withholding and rerun to see impact on take-home and refund.

How are RSUs/ESPP handled for CA tax?

Equity compensation is generally taxed as wage income when included in W-2; CA sources based on work.

Does California allow Section 125 (cafeteria plan) pre-tax?

Many Section 125 items reduce taxable wages; details depend on CA conformity and plan design.

Important Notes

All calculations are estimates for guidance only. Always review your return and consider professional advice when submitting official filings.