topic Re: Exempt interest dividends in Get your taxes done using TurboTax

Exempt interest dividends

MamaDeerinSnow — Fri, 19 Feb 2021 15:35:47 GMT

For years I have had two investment accounts with exclusively exempt interest dividends reported in 1099-div box 11, and they have been correctly handled by TT. This year those two entries have triggered a review error saying that they also need to be recorded in box 1a, although they are not and never have been reported in that box.

Suggestions?

Re: Exempt interest dividends

Irene2805 — Wed, 24 Feb 2021 14:26:16 GMT

I am unable to duplicate your situation. I have been able to enter a figure in only box 11 of the 1099-DIV and do not get a review error.

If you are using the CD/Download version of TurboTax, please make sure your version of TurboTax is up-to-date.

In TurboTax CD/Download, you will be prompted to download any updates available when you open the program. You can also update the program while you have it open by following these steps:

Click on the Online link in the black bar at the top of the page.
Click on Check for Updates.
TurboTax will download and install any updates available. If there aren't any updates, you will receive the message "Your software is up to date."

If you are still getting the review error, or are using the online version of TurboTax, please delete the 1099-DIV forms and reenter. To delete an individual form, please follow these steps:

TurboTax Online

While in your return, click on Tax Tools > Tools (in the black bar at the side of your screen).
In the Tools Center, under Other helpful links click on Delete a form.
Click Delete next to the form you want to delete and follow the onscreen instructions.
Once you have finished deleting the desired form(s) click the Continue with My Return box (in the lower right of your screen).

TurboTax CD/Download

Go into Forms Mode by clicking on the Forms icon in the top right of the blue bar.
In the Forms in My Return list on the left, click on the form you wish to open and delete.
Click on the Delete Form box at the bottom of the screen.
To return to the interview, click on the Step-By-Step icon in the top right of the blue bar.

Re: Exempt interest dividends

SteamTrain — Wed, 24 Feb 2021 14:58:07 GMT

@MamaDeerinSnow @Irene2805

For a 1099-DIV form:

Earlier his year, if you had a box 11 entry, you also had to have at least a 0.00 entered in box 1a.

i.e.. you couldn't leave box 1a blank.....so a 0.00 for those folks that didn't have a number in there already.

so try that (I haven't tested it again recently)

Re: Exempt interest dividends

SteamTrain — Wed, 24 Feb 2021 15:13:46 GMT

Ahhhh...I only see an error if you made an entry for US Govt Bond interest....Is that what you are looking at.

US Govt Bond interest $$ on a 1099-DIV, can't be claimed if there is no value in 1a that is at least as large as the amount being claimed.

That has nothing to do with box 11...box 11 is for Municipal bond interest, not US Govt bond interest.

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Re: Exempt interest dividends

MamaDeerinSnow — Wed, 24 Feb 2021 15:20:23 GMT

Thanks. I think an update may have fixed it because the last time through, I just deleted the problem TT-filled entry in 1b when review complained, and all was well.

Re: Exempt interest dividends

MamaDeerinSnow — Wed, 24 Feb 2021 15:33:00 GMT

Thanks again. No, these are just exempt interest dividends in box 11, with no entries in any other boxes. When I just deleted the TT entry in 1b, the problem was resolved. I am no expert, so I just go back to previous years when something surprising like this crops up to see what was on the form when it was correct. This is a 1099-DIV I usually get TT to download along with all the others, but with a change in fund management this year, I just hand entered.