When entering the income from the 1099-DIV, should I enter the Payer or the Broker? It seems like either is acceptable. My combined 1099-DIV/Int/B lists the payer.

However, for the section where I enter the 1099-B information it looks like I need to enter the Broker, which makes me wonder if I should also be entering the Broker for the 1099-DIV information as well.

Also, silly question, but the IRS is not going to care about whether the full name of the broker is entered, will they? Wondering if I need to enter the "LLC" part of the broker name.

5915

Level 15

Mar 26, 2023 11:04:59 AM

Enter the payer but either will work.

Expert Alumni

Mar 26, 2023 11:19:31 AM

On the 1099-DIV you should enter the Payer's name. This will match the payer TIN.

On the other hand, you should record the Broker's name for the 1099-B. This will identify who issued the 1099-B.

The IRS will not be concerned about the broker's full name ... until they have a question about it. It takes just a moment. I'd suggest you enter the name as it appears on the 1099-B.

If this does not completely answer your question, please contact us again and provide some additional details.

Level 1

Mar 26, 2023 12:34:07 PM

Thank you! RE: the broker name, the issue is that the broker name does not appear anywhere on the 1099-B, only the clearing bank/payer name. I needed to contact my financial advisor to get the broker name.

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When entering the income from the 1099-DIV, should I enter the Payer or the Broker? It seems like either is acceptable. My combined 1099-DIV/Int/B lists the payer.