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New Member
posted Jul 29, 2023 1:11:27 PM

I received a form that look like 1099-DIV but is not. Th form says the amount shown are not reported to IRS and are being provided for informational purposes only.

Should I just file it in TurboTax as 1099-DIV?

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3 Replies
Level 15
Jul 29, 2023 1:15:37 PM

What kind of account is the report coming from?

 

IF it is reporting income generated, but held within an IRA, or 401k, (even if ROTH) or other retirement account, it is not reported on a tax return.

Level 15
Jul 29, 2023 8:38:03 PM

Was it not reported to the IRS because the amount of dividends was less than $10? If so, you still have to enter it on your tax return as a 1099-DIV. The financial institution is not required to report to the IRS if the amount is less than $10, but it's still income that you received and you have to report it.

 

Level 15
Jul 30, 2023 11:07:56 AM

FYI ...  ALL interest and dividends are reported to the IRS and MUST be reported on the tax return.   But if the amount is less than $10 the issuer is exempt from issuing the tax form but the DO report it to the IRS.  Now if you do not put it on the return and the return is not looked at for another reason the IRS usually overlooks such small amounts.  BUT if you  ARE audited the IRS will list every single $ you missed on the original return ... I have see this often on the CP2000 audit notices.