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Returning Member

1099-DIV box 3 non dividend distribution

Hi. I have been receiving non dividend distribution every year since I owned one stock in LP. I been told that you don't report as taxable dividend until that stock is sold because this is none dividend distribution.

Until the end of last year 2019. this stock ENLK is converted over to ENLC as sold and I have to report all capital gain, plus since I did not report all non dividend distribution for the past years which I owned ENLK. because ENLK is not sold. How do I report this kind of dividend as stock is sold in 2019. I receive tax statement from my broker every year and I can go back and add them up but what form do I need to report this. Any help would greatly appreciated. Thanks


2 Replies
Employee Tax Expert

1099-DIV box 3 non dividend distribution

You will have to report the "sale" of the stock a normal sale. Under Income & Expenses in TurboTax. The difference in reporting will be when it comes to your cost basis. Instead of your regular cost basis (purchase price, for example), you will need to reduce it by the amount of non-dividend distributions received throughout the years. The result of it will be a higher capital gain amount reported. 

Returning Member

1099-DIV box 3 non dividend distribution

Thanks for response to my question. Would you explain to me what does it mean on broker 1099 under Reconciliations, fees, expenses and expenditures. There is one line stated " Other Receipts& Reconciliations- Partnership Distributions Showed the amount of $1000.00. This is belong to LP public traded company. How this line figure into turbo tax or not.

I import 1099 and schedule K1 into turbo tax every year.

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