1099 dividend income

1099 Form 2010 | Form 1099 2010 | FREE Form 1099 2010

What is Form 1099-DIV (Dividends and Distributions)?

IRS Form 1099-DIV is the official form for reporting dividend income to recipients and to the Internal Revenue Service. A payer is required to send this information by February first of the current tax year (for example send 1099-DIV for 2010 by February 2011). Sometimes a payer will send some sort of substitute statement that provides the same information an official 1099-DIV would.

Where to buy 1099 div forms?

You can buy 1099-DIV forms online or from an office supplies store. For example you can buy 1099-DIV forms from Office Depot , staples or online from www.W2Mate.com .

How to print 1099-DIV forms?

You can use 1099 DIV software program to print 1099 Dividends. The software can print on the official IRS form and print the recipient copies on regular white paper.

How to file 1099-DIV electronically?

To file electronically, you must have 1099 software that generates a file according to the specifications in Pub. 1220, Specifications for Filing Forms 1097, 1098, 1099, 3921, 3922, 5498, 8935, and W-2G Electronically. IRS does not provide a fill-in form option. You can visit our FREE 1099 software page to download a demo and see how to print and E-File 1099-DIV.

How does a 1099-DIV form look like?


1099 dividend income

1099 dividend income

What do I need to prepare my Income Tax return?

To help save you time and money, please review the following list to be assured you have all the documents and information that is needed for your tax preparation.

If you have any of the forms or documents listed below, bring them with you to your tax interview and let us help you to receive the largest allowable refund available.

To view a list of Itemized Deductions click here.

To view a list of Tax Credits click here.

Click on an item below to view a more detailed description.

1099 dividend income SSN or ITIN (Numbers) for you, your spouse and dependents

1099 dividend income Dates of Birth for you, your spouse and dependents

1099 dividend income Last Year's Federal and State Tax Returns - For New Client

1099 dividend income Wage Statements - Form W-2

1099 dividend income Pension or Retirement Income - Form 1099-R

1099 dividend income Interest Income - Form 1099-INT

1099 dividend income Dividend Income - Form 1099-DIV

1099 dividend income State Income Tax Refund Amount - Form 1099-G - For New client

1099 dividend income Social Security Income - Form SSA-1099

1099 dividend income Unemployment Benefits - Form 1099-G

1099 dividend income Commissions Received/Paid

1099 dividend income Information on sales of Stocks or Bonds - Form 1099-B

1099 dividend income Self-Employed / Farm Income and Expenses - Form 1099-MISC

1099 dividend income Lottery or Gambling Winnings - Form W-2G

1099 dividend income Lottery or Gambling Losses

1099 dividend income Income and Expenses From Rentals

1099 dividend income Income from Partnership, S-Corp, Trust, and Estate - Schedule K-1

1099 dividend income IRA Contributions

1099 dividend income Alimony Paid or Received - Need Recipient's SSN

1099 dividend income Child Care Expenses and Provider Information

1099 dividend income Record of Purchase or Sale of Residence

1099 dividend income Educator Expenses

1099 dividend income Tuition and Education Fees - Form 1098-T

1099 dividend income Student Loan Interest - Form 1098-E

1099 dividend income Estimated Taxes

1099 dividend income Foreign Taxes Paid

Social Security Number (SSN) or

Individual Taxpayer Identification Number (ITIN)

Your Social Security Number is your Taxpayer Identification Number. If you do not have a Social Security card, you can apply for one by completing Form SS-5, "Application for a Social Security Number." The Form SS-5 can be obtained by "clicking here.

If you are a Non-Resident Alien filing a U.S. tax return and not eligible for a SSN, you can apply for an ITIN by completing Form W-7, "Application for IRS Individual Taxpayer Identification Number" and attaching it to your Income Tax return.

The Form W-7 in English can be obtained by "clicking here.

The Form W-7 in Spanish can be obtained by "clicking here.

Bring the required numbers and dates of birth for each child. We will use this information for the dependents you can claim on your tax return. If you had a baby during the year, the hospital may have provided Social Security Application forms for your child. You must have a valid SSN or ITIN Number for every person included on the tax return to electronically file with the IRS.

Last Year's Federal and State Tax Returns

You may be able to qualify for some of the same tax deductions or tax write-offs that you received last year. If you are not a prior-year client, consider bringing in a copy of last year's tax return(s) to your tax interview. Certain information from the prior year's return(s) may be helpful in calculating the current-year tax return.

Wage Statements - Form W-2

For employee income, you should receive a Form W-2, "Wage and Tax Statement," in the mail from each employer you worked for during the year. Contact the employer if you do not receive your Form W-2. It should be sent to you by January 31.

Under certain conditions, your tax consultant can determine your income electronically or by using your payroll stubs. For non-employee income (for example, if you are an independent contractor) that was $600 or more, a Form 1099-MISC, Miscellaneous Income, should be sent to you by January 31. Bring all of your current year Forms W-2 and Forms 1099-MISC to your tax interview.

Pension or Retirement Income - Form 1099-R

The amount of retirement or pension income subject to federal taxes is based on your age when you started receiving distributions and the amount you originally contributed to the plan. Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit Sharing Plans, IRAs, Insurance Contracts, etc., should be sent to you from the payer by January 31. Bring this information with you to your tax interview.

Interest and Dividend Income - Form 1099-INT/Form 1099-DIV

If you have interest earned from any bank or credit union during the year, you should be sent a Form 1099-INT, Interest Income, at the end of the year. Even if you do not receive a Form 1099-INT, you still need to report your interest earned. If you do not receive a Form 1099-INT, consider bringing in your year-end bank statement to your tax interview so your tax consultant can determine the amount to report.

If you have dividend income from stocks or funds, you will be sent a Form 1099-DIV, Dividends and Distributions, from each company or institution. Bring these year-end forms to your tax interview so that your tax consultant can use them to help calculate your gross income.

State Income Tax Refund Amount - Form 1099-G

If you received a state or local income tax refund or credit during the year, include it as income if you deducted this amount as an itemized deduction in an earlier year. Form 1099-G, Certain Government and Qualified State Tuition Program Payments, should be sent to you from the payer by January 31. Federal income tax refunds are not included in your income because they are not deducted to arrive at taxable income. If you are not a prior-year Parker Enterprises client, we recommend you bring your last year's federal and state income tax returns to your tax interview so that your tax consultant can use them to help determine state-related itemized deductions.

Social Security Income - Form SSA-1099

If you received Social Security payments during the year, some of these funds may be taxable income. Bring Form SSA-1099, Social Security Benefit Statement (sent by the Social Security office at the end of the year) to your tax interview so your tax consultant can determine the amount of benefits that are taxable, if any.

Unemployment Benefits - Form 1099-G

If you received state unemployment compensation during the year, it should be included as income on your return. Form 1099-G should be sent to you from the payer by January 31. The IRS will also receive a copy of the Form 1099-G. Contact the Colorado Department of Labor and Employment office if you have not received your Form 1099-G. They can be contacted by telephone or by "clicking here.

The full amounts of any commissions you receive are treated as income. This is true whether your commission is called a bonus or a percentage, and whether it is based on both your sales and the sales of other sellers working under you or on purchases from the company with which you are affiliated. If possible, bring records of amounts received to your tax interview. You can deduct commissions and fees you paid for investment counsel and advice on purchases that produced taxable income. Broker's fees, commissions, or option premiums paid in connection with the sale of investment property cannot be deducted. They can be used only to calculate gain or loss from the sale. This is also true for the real estate commission paid on a sale of residence. The realtor's commission can be used only to calculate the net gain or loss on the sale. Your tax consultant can help you get the maximum allowable deductions for your circumstances.

Information on sales of Stocks or Bonds - Form 1099-B

Capital gains and losses on the sale or trade of investments are classified as either short-term (if the property is held for one year or less) or long-term (more than one year). A paper loss, which occurs when an investment's value drops below its purchase price, does not qualify for this deduction. Bring Form 1099-B, Proceeds from a Broker and Barter Exchange Transactions, any brokerage statements (showing dates bought and sold), and any available confirmation receipts (shows the cost basis and any fees paid) to your tax interview so that your tax consultant can get you the lowest tax rate available for your situation and help you plan for next year.

Self-Employed Business / Farm Income and Expenses

If you operated a business as a professional or sole-proprietor, you are taxed on gross income minus expenses. Bring your accounting records showing your totals for income and expense items to your tax interview. If you do not have these summary records, you can also bring in your receipts or other proof of income or expenses.

Lottery or Gambling Winnings - Form W-2G

Gambling winnings greater than $5,000 are usually subject to income tax withholding. The amount of income tax withheld for the year is 25% of the amount paid (the total amount you won minus the amount of your bet). If you receive gambling winnings of $1,000 or more, the payer should send you a Form W-2G, Certain Gambling Winnings. This form shows the amount you won and the amount withheld, if applicable. Bring this form to your tax interview so that your tax consultant can use it to help calculate your gross income. Your total gambling winnings are taxable, regardless of whether or not you received a W2-G. Bring the sum of your total winnings from all sources with you.

Lottery or Gambling Losses

Gambling losses (up to the amount of gambling winnings) can be deducted on your income tax return. You must be able to substantiate your losses with a written log that includes the date, location, type of gambling, amount of wager, and your winnings and losses. Certain types of gambling require additional proof of the wager (for example, payment slips and unredeemed tickets when playing the lottery or the name and number of a slot machine and the time it was played). Keep a gambling log (along with any necessary supporting information) as part of your records. Notify your tax consultant of the amount of your losses, so they can be properly claimed against your gambling winnings on your return.

Income and Expenses From Rentals

If you own rental property, money received as rent is reported as income. You can deduct expenses for acquiring, maintaining, insuring, and operating the rental property. Bring your accounting records to your tax interview. If you do not have accounting records that summarize your transactions, you can also bring your receipts or other proof of income or expenses.

Income from Partnerships, S Corporations,

Trusts, and Estates - Schedule K-1

The income and deductions from these entities are passed on to you and are included in your return. Bring Schedule K-1 or an equivalent statement to your tax interview.

You may be able to deduct up to $5,000 for individual contributions to an IRA. If you are age 50 or over, you may be allowed to deduct $6,000. Limitations for filing status, participation in other retirement plans, and total income may apply. You should keep any bank or plan administrator documents and receipts you have as part of your records. Notify your tax consultant of the amount of your IRA contributions.

Alimony Paid or Received

Any alimony you received in the current year is taxable income. Any alimony you paid is deductible on your tax return. Child support payments are not included in the recipient's income and they cannot be deducted by the payer. If you receive or pay child support in addition to alimony and your decree or agreement specifies individual amounts, only the alimony is taxable or deductible. Review the copy of your decree and any record of actual payments so that you will be able to provide your tax consultant with the alimony amount during your tax interview. If you pay alimony payments, the recipient's Social Security Number is also required.

Child Care Expenses and Provider Information

If you have a qualifying child under age 13, a disabled child of any age, or a disabled spouse, and you pay someone to provide care for them while you work, you may qualify for a tax credit of up to 35% of your expenses. You must provide the IRS with the care provider's name, address, and Taxpayer Identification Number (TIN), Social Security Number or an Employer Identification Number (EIN). If the provider is a daycare center, the TIN is their EIN. If the provider is an individual, the TIN is their Social Security Number. If the provider is a qualified church or non-profit organization and has no EIN, the word "Tax-Exempt" can be substituted for the TIN. You should keep proof of payment receipts with your records. Notify your tax consultant of the expenses you paid during the year.

Record of Purchase or Sale of Residence

Purchase - If you purchased a home during the year, you may be able to claim certain expenses as itemized deductions, for example mortgage interest and real estate taxes. You should receive a Form 1098, Mortgage Interest Statement, from your mortgage company by January 31 that show the interest, points, and escrowed real estate taxes you have paid. Bring this form and a copy of your settlement papers for the new house, including Form HUD-1, Settlement Statement if available, to your tax interview so that your tax consultant can calculate your savings. Also, bring statements on real estate taxes you paid if they are not shown on your Form 1098.

Sale - The sale of your main residence needs to be reported only if you have a gain and part of the gain is taxable. To claim an exclusion on the gain from a sale, you must have owned the home and lived in it as your main home for at least two years. You may be able to exclude up to $250,000 ($500,000 for Married Filing Jointly returns) of the gain from your income. The tax basis of your property needs to be determined. If you saved your Form HUD- 1 from closing, certain items listed on that statement, such as the attorney's fees, surveys, agent's commissions, title searches, recording fees, and the transfer and stamp taxes, can be added to the basis. We recommend you bring Form HUD-1 from the closing, any applicable receipts, copies of the sale documents, copies of the original purchase documents and receipts for property improvements to your tax interview.

If you are a teacher, and you paid for classroom supplies and other materials out of your own pocket, you can deduct those expenses even if you don't itemize. You can claim up to $250 of classroom expenses for supplies, materials, books, software, etc.

Tuition and Education Fees - Form 1098-T

If you are a student, or if you have a dependent who is a student, you may be able to either deduct up to $4,000 as an adjustment to income, or elect one of the education tax credits for college tuition. Qualified tuition expenses are fees paid for you, your spouse, or a dependent for whom you claim an exemption to attend an eligible institution. Other restrictions apply. Bring Form 1098-T, Tuition Payments Statement, or a copy of your college tuition bill to your tax interview.

Student Loan Interest - Form 1098-E

If you took out a student loan for yourself, your spouse, or your dependent, you may be able to deduct up to $2,500 of the interest you paid during the year. You should receive a Form 1098-E, Student Loan Interest Statement, showing how much interest you paid during the year. Ask your tax consultant how to get the most from these benefits.

If you are self-employed or paying quarterly estimated taxes, review your Form 1040-ES payment vouchers and any state tax vouchers so that you can notify your tax consultant of the amount you paid to receive credit for the payments already made.

Foreign Taxes Paid

If you are paying foreign income taxes on your interest or dividends, these payments will be listed on your Form 1099-INT, Form 1099-DIV, or other similar statement. For other foreign taxes paid or withheld, bring proof of payment to your tax interview.

To view a list of Itemized Deductions click here.

To view a list of Tax Credits click here.


How to Report Your Investment Dividends Income to The IRS

If you invested in a company, or mutual funds, or any other share-based investment product last year, and the company paid dividends to you, that is income, and you must report it.

If you want to avoid costly mistakes, while at the same time taking advantage of all credits and deductions, you'll want to do your taxes with H&R Block this year.

If you own shares of a company, mutual funds, or have other investments, you will need to report the profits earned, called dividends, on your tax return.

When you receive all your 1099-DIV forms, you will notice that there are different amounts, entered in different boxes on the forms, signifying the kinds of dividends that you earned through each company.

It is a good idea to begin collecting the needed forms long before April 15th, so you run less of a risk of needing a filing extension.

You can avoid paying taxes on your dividends by reinvesting. If you have mutual funds or other investments for which you have capital gain distributions, you usually have the choice of either receiving the distributions or letting the investment company retain them.

First, let's look at how dividends are reported on paper returns:

• You received, as a nominee, dividends that actually belong to someone else.

Declaring investment income and loss, as well as claiming investment-related deductions is a complicated business. But by using H&R Block Premium, you will be able to organize all your investment income reporting quickly and easily.

• More Accurate Reporting through stock, bond and mutual fund guidance.

H&R Block will give you as much, or as little help as you need with your taxes. You can do it all yourself, or have a tax professional assist you when you need it. Either way, you'll save time, and money, and avoid costly mistakes.

1099 dividend income

You can get more information about declaring dividend income, directly from the IRS, in the form of Publication 550 which also deals with another favorite subject, capital gains tax laws.

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