Do I have to report dividends, interest, activity associated with a consolidated form 1099, Brokerage account if no income was disbursed to me this tax year?

Forum|Forum|4 years ago
February 27, 2022
2 replies
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AnnetteB6

Employee Tax Expert

Yes, if the brokerage account is a taxable account and reported under your Social Security number, then you do need to report any dividends, interest, or trades reported on the consolidated form 1099, even if all of the income remained in the account.

If the brokerage account is a tax-deferred account, such as an IRA with a Federal ID number other than your Social Security number, then you do not report that information on your personal tax return.

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VolvoGirl

Level 15

Yes you need to enter it all. You need to enter each section in the right place. So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales.