There will be no other information entered for the adjusted dividends in TurboTax. You indicated that the dividends are adjusted and that will be reflected in your return.
There is one more thing that you need to do to report Form 1099-DIV divisions. Income reported that actually belongs partially to another person needs to be adjusted with the IRS.
Nominee Actions/Returns:
Generally, if you receive a Form 1099-DIV for amounts that actually belong to another person or entity, you are considered a nominee recipient. You must file a Form 1099-DIV with the IRS (the same type of Form 1099 you received). You must also furnish a Form 1099 to each of the other owners.
File the new Form 1099-DIV with Form 1096 (this is a transmittal for the 1099) by mailing to the Internal Revenue Service Center for your area. (Provided on the Form 1096)
- On each new Form 1099, list yourself or the original Payee as the payer and the other owner, as the recipient. On Form 1096, list yourself or the original Payee as the nominee filer, not the original payer. The nominee is responsible for filing the subsequent Forms 1099 to show the amount allocable to each owner.
The forms filed with the IRS should be the red copy so if you don't have a color printer, go to the IRS website and order the forms here:
Split the amount as needed and enter only the necessary portions on the appropriate returns.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
