topic Re: Quick Employer Forms 1099 DIV Error in Get your taxes done using TurboTax

Quick Employer Forms 1099 DIV Error

MMack — Wed, 19 Jan 2022 23:51:43 GMT

I am trying to process 1099 DIV forms through Quick Employer Forms and keep receiving the following error:

We're almost done with this form. Error check found the following:

Form 1099-DIV Worksheet : Total dividends must be greater than or equal to the sum of box 1b, 2e, and 6.

Box 1a and 1b are the same $$ amounts. Therefore, the sum of box 1b is equal to box 1a (total dividends). The only way I can get the error to go away is to delete the cents and round the figures to equal whole dollars. I do not want to do that. I want to report exact dollars and cents.

Is there a way to correct this or am I missing something?

Thank you

Re: Quick Employer Forms 1099 DIV Error

DaveF1006 — Thu, 20 Jan 2022 02:12:44 GMT

Turbo Tax does not accept dollars and cents because the IRS requires that numbers are rounded to the nearest dollar on any of their documents. Please review this Turbo Tax link for more details.

[ Edited 01/19/22|06:12 PM PST]

@MMack

Re: Quick Employer Forms 1099 DIV Error

VolvoGirl — Thu, 20 Jan 2022 00:53:54 GMT

@DaveF1006 Yes you can prepare 1099 INT and 1099 DIV in Quick employer forms. You just can't using the built in W2/1099 Reporter in the Desktop programs. You have to use QEF. See the QEF FAQs first question,

https://quickemployerforms.intuit.com/faq.htm

Re: Quick Employer Forms 1099 DIV Error

MMack — Thu, 20 Jan 2022 00:54:34 GMT

Thank you, but I am processing 1099 DIVs for a corporate client that has paid dividends. I have processed them in past years using Turbo Tax Employer Forms.

Re: Quick Employer Forms 1099 DIV Error

Critter-3 — Thu, 20 Jan 2022 00:57:36 GMT

Although you can issue a 1099-DIV using QEF tool why are you doing so ? Are you completing them for a C-Corp ?

Re: Quick Employer Forms 1099 DIV Error

Critter-3 — Thu, 20 Jan 2022 01:06:51 GMT

Form 1099-DIV Worksheet : Total dividends (box 1a) must be greater than or equal to the sum of box 1b, 2e, and 6.

Read that error message again ... box 1a > or = to (1b + 2e + 6) so look at my example 123.33 + 25.25+ 25.25 = 173.83 You said that box 1a & 1b are equal amounts.

123.33 is not > or = to 173.83 so are you sure you are entering the correct amounts in boxes 2e and 6?

Re: Quick Employer Forms 1099 DIV Error

MMack — Thu, 20 Jan 2022 03:50:25 GMT

Thank you. Boxes 1a &1b are equal amounts. There is nothing in Box 2e, Box 6 or any other boxes. All dividends are qualified.

Re: Quick Employer Forms 1099 DIV Error

MMack — Thu, 20 Jan 2022 09:54:37 GMT

Thank you. Once I rounded the figures, the error went away.