Reporting Ordinary Dividends

Form 1099-DIV, Dividends and Distributions reports dividend income to the taxpayer and to the IRS.

Ordinary dividends shown in box 1 of Form 1099-DIV are reported on Form 1040, line 9a. If the total amount of dividends received is over $1,500, Schedule B must be filed with the tax return.

On Form 1099-DIV, only boxes 1a, 1b, 2a, 3, 4, 5, 6, and 7 are in scope for the VITA/TCE program. Refer taxpayers with amounts in other boxes to a professional tax preparer.

For more information, see the Volunteer Resource Guide (Tab 2), Dividend Statement for Schedule B, Line 5 Dividend Income.