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?
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.