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Edward Jones' statement is hard to understand. How do I tell what a Qualified Dividend is vs an ordinary Dividend?

 
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2 Replies

Edward Jones' statement is hard to understand. How do I tell what a Qualified Dividend is vs an ordinary Dividend?

Not sure I understand what you mean...or what you are trying to do.

At the beginning of an Ed Jones consolidated statement are the 1099-INT and 1099-DIV forms.  All you need to do in the tax software is enter the data on that 1099-DIV form... "as-is"  since it breaks down your Total ordinary dividends (box 1a) and  Qualified dividends (box 1b) for you...along with any other entries you need to make for that 1099-DIV form.

Examples:
<a rel="nofollow" target="_blank" href="https://www.edwardjones.com/images/OPR-1285-A.pdf">https://www.edwardjones.com/images/OPR-1285-A.pdf...>
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Now if you are trying to piece together how the $$ got from your "Supplemental Information"  sheets to the boxes 1a and 1b totals on the EJ 1099-DIV......I can't help you there since I don't have a copy of their supplemental sheets format...that is just usually FYI data...but I guess it is needed sometimes.  But EJ did it for you...
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IF you are looking for descriptions of what constitutes and Ordinary Dividends. vs. Qualified......the descriptions can be somewhat confusing in that the IRS considers ALL dividends as Ordinary....and then a subset portion of them are Qualified for special tax rates.

Here's one discussion of what makes an Ordinary  dividend also a "Qualified" dividend.

<a rel="nofollow" target="_blank" href="https://www.fool.com/knowledge-center/qualified-dividends-vs-ordinary-dividends.aspx">https://www.fo...>
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
Hal_Al
Level 15

Edward Jones' statement is hard to understand. How do I tell what a Qualified Dividend is vs an ordinary Dividend?

For tax filing purposes, using TurboTax (TT), it's fairly simple. Ordinary dividends in shown in box 1a of form 1099-DIV and qualified dividends in box 1b. You just enter these at the 1099-Div screen and TT does the rest.

The Edward Jones' statement is a consolidated 1099.  Read it carefully; it follows the IRS forms 1099-Div, 1099-Int and 1099-B.  

The box 1b amount is already included in the box 1a amount. TT will prepare the "Qualified dividends and capital gains worksheet to tax the qualified dividends at long term capitals gains tax rates (sometimes at 0%)
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