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Level 2
posted Apr 14, 2024 5:08:56 PM

I am not seeing TurboTax handle qualified dividends, but it shows that I am being taxes on the entire Ordinary Dividends

I use Fidelity Investments, and I imported in their tax data into my TT H&B Desktop return. It shows the total Ordinary Dividends, and the Qualifed Dividends. Our joint income is under the limits for where we should pay no income tax on the Qualified Dividends, but, TT does not make any adjustments on this. 

 

Not sure if this is a bug in TT, or, if Fidelity did something incorrectly (I did delete the previous Fidelity import, and re-imported with the latest data, just to be safe).

Appreciate any guidance or assistance.

0 3 15268
3 Replies
Expert Alumni
Apr 15, 2024 9:42:07 AM

Ordinary dividends are taxed as ordinary income. Qualified dividends are the ones that are qualified for special tax treatment.

Level 2
Apr 15, 2024 10:12:10 AM

I do understand that, but, the question is why does TT treat all of my dividends, when most of my dividends are marked as qualified dividends?

Expert Alumni
Apr 15, 2024 10:34:12 AM

Why do you think that is happening?