In completing Form 2210 (using TurboTax) I have two(2) 1099-DIVs from two different companies.
Company-A provides detailed extended information as an addendum to the 1099-DIV such as the date for every type of distribution (ordinary, qualified, 199A, etc...).
Company-B's 1099-DIV does not provide this detailed info.
Approach One: (tedious)
I go thru and associate each type of distribution with its 'quarter'. While tedious, I can precisely locate each distribution in it's proper quarter. I can apply this to Company A but not Company B's 1099-DIV.
Approach Two: (simple)
The Company-B 1099-DIV does not provide such detailed breakdowns. I do know how much my total dividend amount was by each quarter. And I do have the totals for the various types of distributions (qualified, ordinary, etc.). So from that I calculated a percentage or ratio for each quarter. I then applied that same ratio to each of the specific types of distributions.
So I used Approach One on the 1st 1099-DIV form Company A and then I used Approach Two on the 2ns 1099-DIV from Company B. I added the 2 results up and used that to complete Form 2210.
Question: Does that sound reasonable?
2nd Question: Is the 'Simple' Approach Two - 'good enough' ?
Even though I have detailed breakdowns of all the types of distributions for Company A - could I also happily apply simple Approach Two to that 1099-DIV. It would yield a very very close set of figures for the 1st three quarters for the 'lesser' distributions. AFAIK that extended information is not provided to the IRS. And using Approach Two is much simpler/easier to apply.
