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Without going to great lengths to have corrected forms sent to you, there is an easier way to both list the dividends received in total and at the same time have one be excluded from your total income calculation. You can list the dividends received from the broker as "Nominee" dividends and the steps below should assist you in that regard:
I suggest using the broker 1099-DIV rather than the K-1 amount as it is easier to adjust and easier to have it apply to a specific document rather than one that includes other information.
Your LLC or S Corp issued you both the K-1 and the 1099-DIV?
Are you a single member LLC that invested in another company so the 1099-DIV was issued to you?
It may be a case where you will need a corrected 1099-DIV (the LLC would need to retract it) if the income went to a partnership LLC. If you are a single member LLC then you shouldn't have a K-1.
The 1099D was issued by my broker and the K-1 was issued by the LLC
Without going to great lengths to have corrected forms sent to you, there is an easier way to both list the dividends received in total and at the same time have one be excluded from your total income calculation. You can list the dividends received from the broker as "Nominee" dividends and the steps below should assist you in that regard:
I suggest using the broker 1099-DIV rather than the K-1 amount as it is easier to adjust and easier to have it apply to a specific document rather than one that includes other information.
Thank you, I overlooked the adjustment feature.
I did call the broker and getting them to reissue the 1099 would be difficult
Problem Solved!!
The broker issues a Corrected 1099
Thanks for all the help...
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