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posted Jun 1, 2019 12:28:06 AM

My Credit Union gave me a special dividend from their profits but I got no 1099-DIV form - how and where do I enter the special dividend amount?

I don't have investments or dividends typically, but last year my Credit Union had a good year and deposited over $500 in my share account as a "Special Dividend" based on a proportionality equation I don't understand.  They did not send a 1099-DIV, and I don't know if the dividend is "ordinary" or "qualified" or even something I have to report.  Please help.

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1 Best answer
Expert Alumni
Jun 1, 2019 12:28:08 AM

This is not exactly a dividend. It is profit sharing from your credit union which they call dividends.

You need to report this income as Other Reportable Income.

In TurboTax, open your return and follow these steps:

  • Click on Federal in the left-hand column, then on Wages and Income on top of the screen
  • Scroll down to All Income, locate the Less Common Income section
  • Click Show more and click Start next to Miscellaneous Income at the bottom and click Show More
  • On the next page, click Start next to Other Reportable Income (see attached screenshot)
  • On the next page, describe this as Dividends from Credit union and enter the amount.

1 Replies
Expert Alumni
Jun 1, 2019 12:28:08 AM

This is not exactly a dividend. It is profit sharing from your credit union which they call dividends.

You need to report this income as Other Reportable Income.

In TurboTax, open your return and follow these steps:

  • Click on Federal in the left-hand column, then on Wages and Income on top of the screen
  • Scroll down to All Income, locate the Less Common Income section
  • Click Show more and click Start next to Miscellaneous Income at the bottom and click Show More
  • On the next page, click Start next to Other Reportable Income (see attached screenshot)
  • On the next page, describe this as Dividends from Credit union and enter the amount.