Need help reconciling form 1065 with 1099-DIV from Charles schwab

[krado]

I received a 1099-DIV from Charles Schwab. In the Dividends and Distribution section (item 1a.) includes a dividend of $840 from Brookfield Infrastructure Partners. I entered the dollar amount of 1a. into Turbo-tax, and a tax liability was registered.  A couple of weeks later I received a 1065 form from BIP. In item 6a. of the 1065 schedule is an amount for Ordinary Dividends. When I entered this amount into Turbo Tax a tax liability was registered. It would appear I am getting taxed double on the same dividend. Once when I entered the amount of item 1a. from Schwab (which includes the BIP dividend) and once again when I entered the amount from the 1065 form. Is this true? If so, what can I do about it?

[rogge1722 · Accepted solution]

Contact Schwab and explain to them what happened. They will issue a corrected 1099-DIV. That dividend only belongs on the K-1 line 6a.