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@kuomoutax , assuming that you are US citizen / Resident / Resident for tax purposes , just tell TubroTax that you want to report Dividends and that you do not have a 1099-DIV i.e. pretend that you are entering from a broker's consolidated statement. Then you enter the person/entity name issuing the dividend and go on from there -- leave the FEIN part out and Turbo should accept this because you do not have a 1099-DIV.
Are you saying the account is in a foreign financial account / foreign broker managed mutual fund ? Which country ? Note that if the account is in a different country and broker is not registered in the USA, then FBAR and FATCA may be involved
Thanks PK!
Once I entered all the info into TurboTax's 1099-DIV and left FEIN blank, the system says this entry needs review, which is different from other entries with FEIN entered. What should I do with the "Review"? Thank you!
@kuomoutax , I am familiar only with desktop version --- but in my case , instead of importing the 1099-DIV, I chose "I will enter myself" -- this brings up a series of boxes ( and with checking "my form has more boxes " ) where in I enter each item by hand -- there is no box asking for FEIN , just the name of the institution. I tries including foreign taxes paid and it worked as expected. No issues anywhere. I ran the federal check and there are no errors found.
What version are you using? Perhaps you need to delete the entry ( even though it will show zero and blank but the line appears to still remain. Just add another dividend and enter everything by hand --- put a name in the box that asks for details of the issuer ( I think it uses Box #1 ). follow all the screens and see if you can pass the federal review. I am using Home & Business desktop version
@pk, thanks for your response! I use my laptop for TurboTax, not sure if it's the same version you mentioned. Where can I choose what version to use? Where can I find "I will enter myself"? I can only see 2019 TAX -> Wages and Incomes -> Dividends on 1099-DIV -> Edit/Add, and then the only choice I have is "Add another 1099-DIV".
Besides, should I report the dividends by the name of individual mutual fund or just by the broker?
Thank you so much!
You can report the dividends by the broker you do not need to report each individual mutual fund amount.
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