Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Mar 5, 2022 10:40:51 AM

How to confirm correct entries for income taxes if I don't get a 1099-DIV for my acct (low $), specifically qualified dividends, based on a TD Ameritrade Dec statement?

Ordinary dividends are listed on statement but qualified dividends are not as far as I can tell.

0 3 485
3 Replies
Level 15
Mar 5, 2022 10:45:42 AM

Only your financial institution can tell you what portion of your dividends is qualified. But since the amount is trivial you can just report them all as ordinary dividends. 

Returning Member
Mar 5, 2022 11:02:13 AM

Am I interpreting your statement correctly that I should make the qualified dividend entry match the ordinary dividend entry that my statement gives me?  From further googling, it sounds like ordinary dividends are the total dividend amount and qualified dividends are the portion of those which are taxed at a higher rate, so by assigning them all as qualified I am making sure there's no way I am under reporting my tax amount?  Since it's a small amount anyway the slight over-payment is not meaningful.  Let me know if I'm not tracking on any of that.  Thank you!

Level 15
Mar 5, 2022 11:14:57 AM

Qualifying dividends are taxed at a lower rate, but I am suggesting you report them all as ordinary dividends  so you are not under reporting income and there should be no significant impact on your tax liability in view of the small amount involved.