Filing for Taxes right now

[melissaforpeace315]

Hi everyone, I'm filing for my taxes right now and am a little stumped on the page that states:"Tell us if any of these uncommon situations apply to you"

There is a box that I can check off, that is labeled: "Some qualified dividends or section 199A dividends are from securities that didn't meet the required holding period."

I mean, I have my 1099 that I received from my taxable brokerage amount, but how do I fill out the above section?  If I click /check mark the box, and hit "continue", it takes me to a page that makes me enter a dollar amount for: "Dividends that meet the 60/90 day holding period" AND "Dividends that meet the 45 day holding period".

How do I obtain the dollar amounts to fill in the two sections?   Is it on my 1099? 

Alternatively, what if I just don't check the box that is labeled: ""Some qualified dividends or section 199A dividends are from securities that didn't meet the required holding period"      Will there be any negative repercussions?   Let's say that there are, in fact some qualified dividents that didn't meet the required holding period in my taxable account, and that I did NOT check that box above.... what is the IRS going to do?  Are they going to penalize me?

I really appreciate any help you can provide!

[AnnetteB6]

Unless you have information provided to you from your brokerage company that some of your qualified dividends may not meet the holding period requirements, then you should not check that box for uncommon situations.  

If your paperwork from the brokerage account does indicate that you need to check the box for the uncommon situation, then the additional information you need to report should also be supplied by the brokerage company. 

If you do not check the box and you should have, the worst case is that your taxes may need to be adjusted because some of your qualified dividends may not have been taxed at the correct rate.