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Why do get needs review in 1099-div after entering amounts for treasury or federal amounts?

Can I ignore  "needs review" after entering amounts for treasury money market in the 1099-DIV section?
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2 Replies

Why do get needs review in 1099-div after entering amounts for treasury or federal amounts?

Feb 1, 2021. Agreed.   I get the same "Needs Review" after entering 1099-DIV.  I have trashed the form and entered anew.  Same result.  Every year, Turbo-Tax has some annoying bug like this.  This may be the last straw for me.

JamesG1
Employee Tax Expert

Why do get needs review in 1099-div after entering amounts for treasury or federal amounts?

You will not be able to e-file without satisfying the Review issue.

 

This may be an issue related to the taxability of the income to the Federal government and not to the state.

 

What state tax return(s) are you preparing?

 

The Federal government taxes income you receive from its own bonds and your state may not.

 

What about dividends from U.S. government bonds?

 

The federal government taxes income you receive from its own bonds. Although your state doesn't tax income generated by U.S. government bonds, each state defines government bonds differently.

 

To find out if these dividends are taxable in your state, review your 1099-B along with the supplemental pages from your consolidated tax statement. If you can’t find the info, you might be able to get it from your brokerage or mutual fund company website.  See this example.

 

Once you have found the info in your documents, just follow the screens here and we’ll help you enter an adjustment for the nontaxable amount in your state. When you get to your state taxes, we'll subtract the adjustment from the income reported to your state.

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