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Top 6 Questions About IRS 1099 DIV

Did your investments bear fruit? Use IRS 1099 DIV to report dividends!

Here at PDFfiller, we are embarking on week 2 of our comprehensive review of the 1099 forms you’ll need this tax season. Today’s post covers the IRS 1099 DIV.

What is form IRS 1099-DIV?

Form 1099-DIV Dividends and Distribution reports the ordinary dividends, qualified dividends, total capital gains, foreign tax paid, non-taxable distributions, and foreign source income from each investment account held by a fund company.

Who needs an IRS 1099-DIV form?

You need to file the Form 1099 DIV for every person:
1. to whom you paid dividend and distributions on stock of $10 or more,
2. to whom you paid foreign tax on dividend and other distributions on the stock,
3. from whom you withheld  federal income tax on the dividend under the withholding rules,
4. or to whom you have made the payment of $600 or more for liquidation.

What are IRS 1099-DIV exemptions?

You need not report the Form 1099-DIV in the following cases:
1. Taxable dividends are distributed  from employee stock ownership plans and life insurance contracts.
2. Substitute payments are made in lieu of dividends.
3. Payments are made to payees which include tax-exempt organizations

Is IRS 1099-DIV accompanied by another form?

An IRS Form 1096 Annual Summary and Transmittal of U.S. Information Returns must be filed along with your 1099 DIV.

When is IRS 1099-DIV due?

File copies with the IRS by the end of February 28 and a copy to the recipient by the end of January 31.

How do I fill out IRS 1099-DIV?

In the form, you need to provide payer’s information, the business’s tax identification number, the recipient’s identification number and other basic information. Fill the numbered boxes after reading the instructions carefully.  If you have more questions about the IRS 1099 DIV, you can check out the following video:

Now that you’ve got your facts straight, you can fill your 1099 DIV online with PDFfiller.  And remember to invest wisely and well!