Ordinary dividends are taxed using the ordinary income tax brackets for tax year 2024. Ordinary dividends are reflected in Box 1a of your Form 1099-DIV.
There are many things that affect your "Federal Refund. If you added a Form 1099-DIV that just reported "ordinary dividends" and you saw a jump in your tax due, you may have moved to a different tax bracket or have been phased out of a deduction.
Also, you should check to make sure your Form 1099-DIV was properly entered. Go back to "Wages & Income" and select "Dividends on 1099-DIV" to make sure your numbers are correct.
Your Form 1099-DIV should be entered exactly how it is shown in the TurboTax program. If you have an incorrect entry, you can go back and edit it by clicking on "Edit" next to your Form 1099-DIV.
If you received a Form 1099-DIV, you should enter it under Wages & Income in TurboTax, as follows:
You can enter your Form(s) 1099-DIV information using the steps below:
- Open your return
- In the search Bar enter Form 1099-DIV
- Select "Jump to 1099-DIV"
- It will ask, "Did you have investment income in 2024?" Select "Yes"
- Select "Continue"
- Select "Skip Import"
- You will Select your investment type which is "Dividend"
- You will "Continue"
- Then you will see the screen "Let's get the info from your 1099-DIV"
- You will type in the information from your Form 1099-DIV on that page
Click here for "Is There a Dividend Tax? Your Guide to Taxes on Dividends"
Click here for "Topic no. 404, Dividends"
Click here for "Where Do I Enter Form 1099-DIV in TurboTax Online?"
Click here for "How Do I View and Delete Forms in TurboTax Online"
Click here for "How to Delete Forms in TurboTax Desktop.
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