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Category: 1099's

How Do I report my 1099-DIV, Box 10 & 11?

According to IRS regulations, any amount reported in Box 10 of Form 1099-DIV is to be treated as "Tax-Exempt Interest Income".  To report this within the program, please go into the Federal Section >> Income >> Enter Myself >> Interest and Dividend Income >> Interest or Dividend Income >> "Tax Exempt Interest Income, Form 1099-INT Box 8".  Complete this menu as if your Tax Exempt Dividend Income was reported in Box 8 of a 1099-INT. 


If you have any amounts listed within Box 11, please disregard them unless you are subject to Alternative Minimum Tax. If you are subject to Alternative Minimum tax you can report them under the Federal Section >> Other Taxes >> Alternative Minimum Tax Form 6251, Interest from specified private activity bonds exempt from the regular tax.