Form 1099-DIV, Dividends and Distributions

 

IRS Definition

This form is used by banks and other financial institutions to report dividends and other distributions to taxpayers and to the IRS.

More from H&R Block

If you receive $10 or more in dividends, you will receive a Form 1099-DIV. This form shows the dividends you received, any taxes withheld, non-dividend distributions, capital gains distributions, investment expenses, and certain other types of gains. You will need to report this income on your tax return.

If the FATCA box on your Form 1099-DIV is checked, you may have a filing requirement under the Foreign Account Tax Compliance Act (FATCA). Don’t ignore this box if it is checked. Contact your tax professional if you are unsure of your foreign income filing requirements.

The IRS also receives a copy of your Form 1099-DIV. If you receive a Form 1099-DIV and do not report the dividends on your tax return, the IRS will likely send you a CP2000, Underreported Income notice. This IRS notice will propose additional tax, penalties and interest on your dividends and any other unreported income. Learn how to handle an underreporter inquiry (CP2000).

Get help from an IRS expert

H&R Block’s experts can solve any IRS problem, no matter how complex.

Make an appointment

Or call 855-536-6504

Related Information

How to Handle IRS CP2000 Notices (Underreporter Inquiry)

Learn how the IRS matches your information to generate CP2000 notices, and how to handle one of these underreporter inquiries if the IRS contacts you.

Incorrect CP2000 Notices Are More Common Than You Think

Here are the five things you need to know to respond to the IRS when you get an incorrect CP2000 notice, including how and when to respond.

How to Get More Time to Respond to a CP2000 Notice

If you need more time to respond to an IRS CP2000 notice, ask the IRS to extend the notice deadline. Learn exactly what to do to get more time from the IRS.