I am getting a combined 1099 that indicates a dividend, is this something I need to report? I entered this info last year and this year. I have not received any funds that are going into my personal account at anytime.
at the end of getting everything entered into Turbo Tax, I got a notification asking if I needed these forms since they were not used last year. What do I do?
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What kind of account is it on? Is it a IRA or 401K? If it is a consolidated 1099 in a personal brokerage account not a retirement account you need to enter everything on it.
A consolidated statement will have sections for 1099-Int and 1099-Div and 1099B and maybe some other 1099s. You need to enter each section in the right place. So read it carefully and look for headings.... 1099-INT for interest or 1099-DIV for Dividends or 1099B for sales. I highlight each heading with a yellow highlighter to find them.
Even if you reinvested the dividends and didn’t get them in your personal account, you have to enter them and pay tax on them.
Ok thanks for confirming
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