How To File A Corrected 1099‐Div

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A 1099-Div shape is what banks, brokerage homes and different economic establishments will use to inform you every yr of dividend earnings which you get hold of. You want to apply this bureaucracy to finish your annual earnings tax returns. Occasionally, a 1099-Div might also additionally want to be corrected. When a 1099-Div is wrong, you want to reply quick to accurate the error. If the group identifies the error, then you can get hold of a corrected 1099-Div after finishing your tax return, and you can want to record an amendment.

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Initiating a Corrected 1099-Div Form


Read your 1099-Div cautiously. By past due January of every yr, you ought to get hold of a 1099-Div shape from any group that issued you any dividend payouts at some stage in the yr. The 1099-Div is used to file numerous one-of-a-kind styles of dividend earnings. It is your obligation because the taxpayer to examine the shape cautiously and become aware of any mistakes. The 1099-Div reviews the subsequent styles of earnings:

  • Ordinary dividends
  • Capital benefit distributions
  • Non-dividend distributions
  • Cash and noncash liquidation distributions
  • Exempt hobby dividends

Receiving a Corrected 1099-Div Form

Determine to extrude to your taxes. In maximum cases, the data on a 1099-Div shape pertains to earnings which you have obtained over the route of the yr. Some of these earnings can be taxable, at the same time as a few might also additionally now no longer. Decide whether the data will bring about a extrude to your taxes.

  • The commands that accompany the 1099-Div will let you know in which to file the earnings in your 1040 or 1040A shape. For a few styles of earnings, together with capital gains, you can want to do a little extra painting and entire extra bureaucracy to decide whether the earnings are taxable.
  • If you get hold of the corrected 1099-Div earlier than you filed your tax return, then you definitely are lucky. Simply use the corrected shape as opposed to the unique in getting ready your tax return.

Filing an Amended Tax Return

Explain the motive for to extrude. In Part III of Form 1040X, you’re requested to offer a short reason behind the amendment. This is in which you could give an explanation for which you obtained a corrected 1099-Div shape. If possible, give an explanation for how and whilst the want for the correction arose and offer the dates which you obtained the 1099-Div.

  • For example, you may say, “On January 20, 2016, I obtained a 1099-Div that reported $100,000 of dividend earnings. In fact, my dividend for the yr was $10,000. I notified the company of this error, and I obtained a corrected 1099-Div on March 16, 2016. By then, I had already filed my Form 1040 tax return.”


  • You are chargeable for absolutely and efficiently reporting all your earnings to the IRS and your country earnings tax office. Failing to get hold of a 1099-Div shape or receiving an wrong 1099-Div shape does now no longer relieve you of this obligation.
How To File A Corrected 1099‐Div

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