Entering dividends from same funds from brokerage account and mutual fund account.

Forum|Forum|2 years ago
January 15, 2024
3 replies
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Converted Vanguard mutual fund account to a brokerage account mid year. How do I enter dividends from each account since funds are the same?

Best answer by VolvoGirl

Yes you probably should delete them if you are going to import them. I just logged into my account and one of my 1099 was ready to download. So I printed it off. I enter everything manually.

Bsch4477

Employee

You will receive separate 1099-DIV forms for each account. Enter each separately.

ironmike64Author

I inputted the Vanguard dividends manually last year and this hear Turbotax shows these same funds on my return and asks whether to keep these funds Yes/no. I'm considering saying no to each fund and just importing from Vanguard the separate 1099-Div forms for the brokerage and mutual fund accounts to avoid any confusion on where the dividends are coming from. Make sense?

VolvoGirlAnswer

Employee

Yes you probably should delete them if you are going to import them. I just logged into my account and one of my 1099 was ready to download. So I printed it off. I enter everything manually.

VolvoGirl

Employee

I did that too on Vanguard. I'm waiting for the 1099s to come. Did you get yours yet? Vanguard website says Jan 24. Curious on what I will get. Plus my husband died last year so I might get 4 1099 forms. Just wait for the forms. And you know you may need to figure out the tax info for different funds? They used to send out the extra schedules with the 1099 but now you have to get it online.

Tax information for Vanguard Funds
https://investor.vanguard.com/investor-resources-education/taxes/funds-tax-information

I see one is ready now

https://investor.vanguard.com/content/dam/retail/publicsite/en/documents/taxes/inbst-2024.pdf

SteamTrain

Employee

If at Vanguard?

One thing my brother and I noted last year...that messed us up initially...at least for importing the data, was that one of them you use your Vanguard UserID/Pwd to log in to import the data, and that for the other, you enter the Document-ID number at the top of your paper tax form.

I don't recall which was which...but for either case, you have to wait until Vanguard actually gets their forms distributed, usually late January to mid-Feb.

Of course, if you manually enter your data, there are no import problems, but you do need to wait for your actual forms to be issued.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*