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dafritz
New Member

I received a 1099r for dividends is that correct? instead of a 1099-Div

I received a 1099r for dividends is that correct? instead of a 1099-Div

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3 Replies

I received a 1099r for dividends is that correct? instead of a 1099-Div

1099-R's report distribution from retirement accounts.  Did you have a distribution?

What code is in box 7?
Is the IRA/SEP/SIMPLE box checked?
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

I received a 1099r for dividends is that correct? instead of a 1099-Div

might be a code "U" from a 404k ESOP dividend
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
AnnetteB
Intuit Alumni

I received a 1099r for dividends is that correct? instead of a 1099-Div

Yes, that could be correct, especially if your distribution code in Box 7 is shown as a “U”.

You will enter the Form 1099-R as you would any other Form 1099-R.  The distribution code in box 7 will determine how it is handled on your tax return.  The taxable amount will be reported on line 16b of form 1040, but it will not be subject to an early distribution penalty. 

To go to the section in TurboTax to enter the information from your Form 1099-R, use these steps:

  • On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
  • This opens a box where you can type in “1099-R” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
  • The search results will give you an option to “Jump to 1099-R
  • Click on the blue “Jump to 1099-R” link

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