What is a Form 1099-DIV?

Created by Anil Kumar Kumar Kotla, Modified on Wed, 24 Jan 2024 at 04:57 AM by Anil Kumar Kumar Kotla

A Form 1099-DIV is used by banks and other financial institutions to report dividends and other distributions. If you receive dividends from investments, it’s likely that you may receive a consolidated 1099 form from your bank or brokerage. A consolidated Form 1099 may combine up to five separate 1099 forms (1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID) into one tax reporting document and will show your reportable income and transactions for the tax year from the issuer.

 

Here’s a quick explanation of the main boxes on the form:

Boxes 1a and 1b:  dividends reported if you hold investments (some dividends may show as income in boxes 2a and 5).

Box 4: Any related federal taxes withheld.

Boxes 14-16: any state taxes withheld.

 

Please note that Beem does support boxes 7-8 for foreign tax paid up to $600 if married filing jointly ($300 for all others). More information about what each of these boxes mean can be found here

 

For coverage details and other important legal information about Filer, you can read more here.

 

Additional Resources:

 

This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.

 

Any third-party links are provided for informational purposes only. The third parties and their sites are not endorsed by Beem and Beem is not responsible for, and has no control over, their content, privacy policies, or terms of service.


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