according to the investment/tax information we received turbo tax entered the same amount for ordinary dividends and qualified dividends and included that amount (only one) to our income.
You'll need to sign in or create an account to connect with an expert.
The most significant difference is that non-qualified dividends are taxed at the ordinary income tax rate while qualified dividends are taxed at capital gain tax rates.
On your 1099-DIV, the box 1a - ordinary dividends reflects the total dividend income received and box 1b - qualified dividends is the amount of the box 1a dividends that are qualified. Therefore, if your box 1a and 1b amounts were the same, then all of your dividend income would be treated as qualified.
The most significant difference is that non-qualified dividends are taxed at the ordinary income tax rate while qualified dividends are taxed at capital gain tax rates.
On your 1099-DIV, the box 1a - ordinary dividends reflects the total dividend income received and box 1b - qualified dividends is the amount of the box 1a dividends that are qualified. Therefore, if your box 1a and 1b amounts were the same, then all of your dividend income would be treated as qualified.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
frustration811
New Member
bethesda18
New Member
User1011
Level 2
nvanmaarth
New Member
jfrussell
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.