IRS Form 1099-DIV "Dividends and Distributions"

IRS Form 1099-DIV Instructions

The payers need to provide the following information in the Dividends and Distributions tax form:

1. Write down the payer's name, address, telephone number, and taxpayer identification number;
2. State the recipient's name, address, and taxpayer identification number. If there are multiple accounts for one recipient, add their account number. If you need to file in accordance with the Foreign Account Tax Compliance Act (FATCA), check the appropriate box;
3. Enter the total ordinary dividends - dividends from money market funds, distributions on stock, net short-term capital gains from mutual funds, etc .;
4. Enter the qualified dividends - dividends that qualify for the reduced capital gains rates;
5. Record the total amount of capital gain distributions, unrecaptured section 1250 gain from certain real property, gain from qualified small business stock, and gain from sales and exchanges of collectibles;
6. Indicate the non-dividend distributions;
7. Write down the backup withholding and qualified Real Estate Investment Trust dividends;
8. Enter the recipient's investment expenses;
9. State the foreign tax paid on dividends and distributions and name the foreign country or US possession for which it was paid and reported;
10. Write down the cash and noncash distributions made as part of a liquidation;
11. State the exempt-interest dividends from mutual funds and Regulated Investment Companies (RICs);
12. Indicate the abbreviated name of the state, payer's state identification number, and state income tax withheld on the payment.

There are several pages in this form - for informational purposes, for the IRS, for the recipient's records and tax return, and the payer. If you need more information about Form 1099-DIV, consult the Official Instructions for 1099-DIV, issued by the IRS.

IRS Form 1099-INT Vs. 1099-DIV

Form 1099-INT, Interest Income, is a related document completed by banks, credit unions, and other financial institutions to provide interest statements to applicable account holders. Unlike Form 1099-DIV that includes dividends and distributions, Form 1099-INT reports interest earnings on savings and checking accounts.

IRS Form 1099-B Vs. 1099-DIV

Form 1099-B, Proceeds from Broker and Barter Exchange Transactions, is completed by brokers and barter exchanges and sent to their customers to itemize all transactions, gains, and losses during the tax year. While Form 1099-DIV reports distributions and dividends, Form 1099-B provides the total amount of the customer's taxable gain and loss after the sale of stocks, options, and commodities.

Where to Report 1099-DIV?

Dividends on the 1099-DIV Form are reported to the IRS by financial institutions. 1099-DIV due date is January 31. Its mailing address depends on where your principal place of business is:

1. If you are located in Alabama, Arizona, Arkansas, Delaware, Florida, Georgia, Kentucky, Maine, Massachusetts, Mississippi, New Hampshire, New Jersey, New Mexico, New York, North Carolina, Ohio, Texas, Vermont, Virginia, send the form to the Department of the Treasury, Internal Revenue Service Center, Austin, TX 73301;
2. If you are located in Alaska, Colorado, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Oklahoma, Oregon, South Carolina, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming, mail the form to the Department of the Treasury, Internal Revenue Service Center, PO Box 219256, Kansas City, MO 64121-9256;
3. If you are located in California, Connecticut, District of Columbia, Louisiana, Maryland, Pennsylvania, Rhode Island, West Virginia, send the form to the Department of the Treasury, Internal Revenue Service Center, Ogden, UT 84201;
4. If you are located outside the US, mail the form to the Department of the Treasury, Internal Revenue Service Center, Austin, TX 73301.