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purplecrush
Returning Member

1099-DIV - TurboTax Error as Box 1b (Qualified Dividend) is greater than Box 1a (Ordinary Dividend)

I received a TurboTax error during the Federal Review Check that what I entered in box 1b (Qualified Dividends) from my 1099-DIV is one penny larger then 1a (Ordinary Dividends).  Confirmed I entered what was on the 1099-DIV correctly.  I called the financial institution and they said it is a rounding error in the calculation for their 1099-DIV, and they won't issue a corrected 1099-DIV and that the IRS would have no concerns about it.  They noted that only TurboTax users are getting the error (most tax apps ignore it, no way to confirm).  They unofficially suggested modifying what I enter into TurboTax so 1a and 1b match to get the TurboTax error corrected.  Is there any TurboTax issue electronically filing with the error remaining, or should follow their advice (as it is insignificant difference)?

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1 Reply
rjs
Level 15
Level 15

1099-DIV - TurboTax Error as Box 1b (Qualified Dividend) is greater than Box 1a (Ordinary Dividend)

I recommend that you reduce the qualified dividends by one cent to eliminate the error. It's true that the IRS will ignore the difference (if they even see it).

 

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