Deductions & credits

You would create a form 1099-D or Schedule B to report your dividends and gains.  

 

What is Form 1099-DIV?

Form 1099-DIV Dividends and Distributions is the form financial institutions typically use to report information to you and the IRS about dividends and certain other distributions paid to you.

The financial institutions are required to fill out this form if your total dividends and other distributions for a year exceed $10. It includes information about the payer of the dividends, the recipient of the dividends, the type and amount of dividends paid, and any federal or state income taxes withheld.

What is Schedule B?

Schedule B Interest and Ordinary Dividends is the schedule you use to list interest and ordinary dividends when filing your tax return with the IRS. As far as dividends go, you only have to use this form if you have over $1,500 in taxable interest or ordinary dividends in a tax year, or if you receive interest or ordinary dividends as a nominee.

The IRS states you must also use this form to report dividends if you are a signer on an account in a foreign country, or if you grant, transfer, or receive any funds to or from a foreign trust. You may have to use Schedule B for other situations as well.

How have taxes on dividends change

Here is a TurboTax article about dividends.

 

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