I issued a 1099-DIV to someone that was incorrect. The correct amount for the 1099-DIV is zero, but the Intuit Quick Employer Forms does not allow me to correct the 1099-DIV with a zero dividend amount. I tried to cancel the 1099-DIV, but am not sure whether this actually canceled the electronic submission to the IRS or not. How can I correct the 1099-DIV and how can I check that the IRS received the correction? Thanks for your help.
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If the 1099-DIV was submitted to the IRS, you cannot just cancel the transmission. Check the status of the submission- if it has transmitted or accepted it is too late and you must file the corrected form. Try entering .01 and it will be rounded down to zero.
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