Form 1099-DIV


Form 1099-DIV


Tax Slayer entry:

Varies depending on the source of the dividends.

Box 1 – 6:

Federal Section > Income > Interest and Dividends (1099-INT, 1099-DIV) > Interest and Dividends > Dividend Income

  • If part of a broker statement, look for additional information that may indicate that some of the dividends may be tax-exempt to the state.
  • Dividends (1a, 1b) reported will appear on Form 1040 line 3a – Ordinary dividends or line 3b – Qualified dividends.
  • Federal tax withheld (4) will appear on Form 1040 line 16 – Federal income tax withheld.
  • Foreign tax paid (6) will appear on Form 1040 line S3-48 – Foreign tax credit.

Box 5:

Federal Section > Deductions > Itemized Deductions > Miscellaneous Deductions > Investment Fees and Expenses

  • For 2015 – 2017: Investment expenses are entered on Schedule A line 23 Misc Deductions.
  • For 2018: Now used for the 20% QBI deduction. (The investment expense deduction has been eliminated.) Enter on the  TaxSlayer Dividends page.

Box 7:

  • Income from sanctioned countries (Iran, N Korea, Sudan and Syria) require a form 1116 and is OUT OF SCOPE.

Box 11:

For 2015-17: Federal Section > Income > Interest and Dividends (1099-INT, 1099-DIV) > Interest and Dividends > Tax Exempt Interest, Box 8

For 2018: Federal Section > Income > Interest and Dividends (1099-INT, 1099-DIV) > Interest and Dividends > Dividend Income

  • If the dividends are from a non-Colorado entity, it will require a Colorado adjustment.
  • Exempt-interest dividends (box 10) will appear on Form 1040 line 2a – Tax free interest income

Box 12:

Federal Section > Other Taxes > Alternative Minimum Tax (Form 6251)

  • Enter on the line that reads “Interest from specified private activity bonds exempt from the regular tax”.
  • This carries to Form 6251, line 12 which if required puts the return OUT OF SCOPE.

Box 13-15:

Federal Section > Payments & Estimates > Other State Withholdings

☣ SOFTWARE ERROR If state tax was withheld, the state return will have to be paper filed to support that withholding. Attach a copy of the 1099-DIV that shows the withholding.