After transferring all whole shares from my Equiniti SEP-IRA custodial account to another SEP-IRA custodial of mine at Etrade, I was issued and inadvertently cashed a residual dividend payment from Equiniti (which was made out to my name, but with the custodian designation as well), which reflceted a dividend payment that occurred after the share transfer date. Equiniti then issued me a 1099-B, when it should have issued a 1099-R to me reflecting an IRA distribution. But Equiniti says it cannot/does not issued 1099-R forms. How do I fix or explain the erroneous form to the IRS?
You'll need to sign in or create an account to connect with an expert.
You received a residual dividend payment, which can be reported on Form 1099-B. If it had been deposited into the new SEP-IRA, you could have reported it as an IRA distribution. In this case, you will need to include the dividends on your tax return.
Okay, yes, and thank you. And I assume from your answer that it will be reported in the 1099-B section of TurboTax, since that was the form on which the residual payment was reported. Thanks again.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
x9redhill
Level 2
Ian B
New Member
cboise
New Member
taxuser77
Level 2
dmertz
Level 15