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Level 2
posted Feb 21, 2024 4:30:28 PM

1099-INT and 1099-DIV for Traders of Secuities (MTM)

I've searched but can't find an answer for this.  I have a dedicated brokerage account that I use exclusively for my 475(a) elected trading b

usiness that I've previously reported on a Schedule C.  This year, the account kicked off both

reportable

 interest and dividends.  How do I report those for the business as in my mind they should be considered business income, and not personal income?

 

Thanks

0 1 456
1 Best answer
Expert Alumni
Feb 21, 2024 4:55:51 PM

As with pass-through entities such as S corporations and partnerships, interest and dividend income associated with self-employment income would be reported on Form 1040 as personal interest and dividends. There is no where to enter that type of income on a schedule C form.

1 Replies
Expert Alumni
Feb 21, 2024 4:55:51 PM

As with pass-through entities such as S corporations and partnerships, interest and dividend income associated with self-employment income would be reported on Form 1040 as personal interest and dividends. There is no where to enter that type of income on a schedule C form.