topic Re: 1099-DIV - for self-employed in Get your taxes done using TurboTax

1099-DIV - for self-employed

jwi4o2d — Sun, 14 Feb 2021 20:50:20 GMT

Hello!

In the Turbotax Home & Business software, is there a difference between filing the 1099-DIV information (from IRAs, for example) under the PERSONAL or BUSINESS tabs? Is it only possible to file the 1099-DIV in the PERSONAL tab? I am a self-employed worker, so I'm filing all my income otherwise under BUSINESS.

Is there a way to file the 1099-DIV info on Boxes 1D and 1E? I'm not seeing a spot to enter this information.

Where can I find which state my 1099-DIV Box 11 info applies to?

Turbotax asks me the question which state does my Box 11 (exempt interest dividends) info apply to?

Thank you all so much!

Re: 1099-DIV - for self-employed

VolvoGirl — Sun, 14 Feb 2021 21:00:25 GMT

In the first place you do not report 1099 Div or 1099 Int from IRA or 401k or retirement accounts. You only enter 1099R. Then you only report other 1099Div & 1099Int, 1099B, 1099R etc. under Personal in the Home & Business version. The schedule C you are filling out for Business is part of your personal individual 1040 return. Your self employment business on schedule C is a disregarded entity. The Net Profit or Loss is for you personally.

There might be a box on the Div screen to check for - My 1099 has more boxes.

Re: 1099-DIV - for self-employed

VolvoGirl — Sun, 14 Feb 2021 21:04:58 GMT

Are you sure it's a 1099 Div? What do you have in boxes 1D & 1E? Could it be a 1099B for sales? The 1099Div doesn't have those boxes.

https://www.irs.gov/pub/irs-pdf/f1099div_20.pdf

Re: 1099-DIV - for self-employed

jwi4o2d — Mon, 15 Feb 2021 02:10:05 GMT

Thanks! I realized this 1099-DIV is not for my IRA account, it's for a brokerage account. So I will report it under Personal taxes.

The 1D and 1E does seem to be for a 1099-B (it's another box on the same page of the 1099-DIV so I got confused that it's part of the same form).

Re: 1099-DIV - for self-employed

VolvoGirl — Mon, 15 Feb 2021 02:11:55 GMT

sounds like you got a consolidated statement. That will have sections for 1099-Int and 1099-Div and 1099B. 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.