I only received several dollars (below $10) of dividends last year. I see that I must report it. But how can I do it with Turbotax? It asks as if I must enter info from a 1099 DIV, but the financial institution did not issue me one.
You start into the 1099-DIV section.
Then on the page where it's asking for your Financial provider, you don't....you just go to the bottom of the page and click on:
"Change how I enter my form"
then on bottom of the next page, click on
"Type it in myself"
then proceed to enter your data manually. All taxable dividends are in box 1a ( a subset of 1a $$ may also be in 1b...but you may have trouble figuring that out so you might have to leave 1b empty...but the tax on a few $$ is minimal )
To enter a 1099-DIv:
After you have logged in and are in your return:
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And I did all those you said already...
But it brings a screen where we can only enter it in a 1099 DIV format, with box 1a 1b and so on.... It never asks if I did not have a 1099DIV.... The only way I can enter the several dollar of dividend is if I enter it into the lace of box 1a. But a I said I did NOT receive a 1099 DIV. How can I enter my dividend information without entering it as if entering info from a 1099 DIV which I do not have?
If it was a dividend, you enter it on a self-created 1099-DIV....even if you did no 1099-DIV form was issued.
On the manual entry page for the form, you just enter the name of whatever financial provider credited the dividend to you...and then the $$.
The 1099-DIV is used for Stock dividends and Mutual Fund dividend distributions.
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A Credit Union account issues so-called "dividends" too, but they are really just interest and go on a 1099-INT in box 1...even if no 1099-INT was issued. Unless the "dividends" or interest came from individual US Govt bonds you held (or savings bonds)...then they go in box 3.
Okay so I enter the name of the bank and then below where it says box 1a, I enter the dollar amount, even if I was not issued a dividend and have no box 1a anywhere correct? So in other words, there is nothing something like "a 1099DIV was not issued " etc... correct?
Yes...but only if they actually issued a dividend to you, or credited one to your account.....but was it really some kind of a bank investment account, or bank stock ?
and not just a savings or checking account? ......Savings or checking account interest goes on a 1099-INT.
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"even if I was not issued a dividend" huh? what do you mean by that?
No not at all. This is a common stock (GE) dividend. The financial institution did not issue me a 1099 DIV because it is under $10 as far as I know. So they did not issue me a 1099 DIV. Then How can I enter this information? I enter it as if I have a 1099 DIV into box1a? If not how?