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New Member
posted Apr 16, 2023 6:14:23 PM

I don't have 1099 INT. But I have a 1099 DIV. What's the difference?

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4 Replies
New Member
Apr 16, 2023 6:23:52 PM

A 1099 INT is received from an institution that paid you interest on your money for example in a savings account.

 

A 1099 DIV is received from an investment vehicle (stock, mutual fund) that pays you a dividend on thse investments.

Returning Member
Apr 16, 2023 6:31:30 PM

Sapling.com seems to put this succinctly: "Interest is the income received from bonds, bank CDs, saving accounts, bank money market accounts or loans made as a lender. Dividends are paid to shareholders of stock as a portion of the company profits and all investment company distributions are classified as dividends. Mutual funds, closed-end funds and Exchange-traded funds are the different investment options with dividends."  https://www.sapling.com/6330162/dividends-vs-interest  

 

If you don't have interest in excess of $10 from any one payor, you won't get a 1099-INT. (Many people haven't been getting them recently because interest rates have been so low. This is likely to change, depending on how much people have in interest-bearing accounts). 

 

You have gotten a 1099-DIV, so be sure to enter the details from that in TT. 

 

You can ignore any references to form(s) 1099-INT if you have not in fact received one.

Expert Alumni
Apr 16, 2023 6:32:25 PM

1099-DIV, which reports dividend income and capital gains distributions. 1099-INT, which reports interest income. 1099-R, which reports distributions from retirement accounts.


Dividends are income payments made by companies to shareholders. 

 

Interest is income paid by companies, banks or governments to their bond holders or customers.


 

 

Level 15
Apr 16, 2023 7:22:46 PM

from a tax perspective, both types of income are reported on schedule B just in different sections. it's important to use the correct section which is done by using the correct 1099 in Turbotax. interest income and non-qualified dividend income are taxed as ordinary income which means there is no special tax rate for them. qualified dividends on the other hand have a special tax rate depending on the taxpayers other income.