If you don't report the form on your report you might receive a notice from the IRS. Each box on your 1099-DIV reports something different and affects whether you must report it on your tax return.
What Is IRS Form 1099-DIV: Dividends and Distributions?
If the IRS rejects your return, you can make the changes and re-submit your return. However, if the IRS accepts your return, you have to wait until it has been fully processed and you have received your refund. Then you can prepare an amended tax return to report the form on your return.
- In TurboTax, scroll down to Your tax returns & documents. Select Show and then select Amend (change) return, and then Amend using TurboTax Online. (If you don't see Your tax returns & documents, select Tax Home on the left.)
- Select the reason you’re amending and follow the instructions
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