If I just enter everything except FEIN, the system asks me to review. But what should I actually do to review it, since I don't have FEIN.
@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!