Question

Under 1099-div #5 (199A) dividends I do not have information telling me if these dividends meet the required holding period. Do I check none of these apply?

Forum|Forum|5 years ago
March 4, 2021
1 reply
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I do not have a business. I have mutual funds and some stock. I do not even know which funds these dividends come from as it does not show on the 1099. Other investments I have show which mutual funds but still no information determine if they meet holding requirements.

TurboTax Premier Online

M

mglauner

Box 5 info is new for trying to calculate a Qualified Business Income (QBI) deduction for you, if you qualify.

If the amount is small and you don't think you qualify, you can leave Box 5 blank on your 1099-DIV entry.

Otherwise, you may have the info you need on your Brokerage Statement. Brokers may not provide detailed cost basis reporting to the IRS on the sales of "non-covered" securities. Non-covered securities are generally any securities purchased or acquired before January 1, 2014, so they would be considered as 'long term'.

Click this link for details on 1099-DIV Box 5.

M

marchristensen1

For Turbotax 2021

Where do I enter the amount shown is Box 5 on my 1099 DIV?

Turbotax only shows me a place to enter amounts in boxes 1, 2, and 3.

Thank you for your help

F

FangxiaL

Follow these steps to enter box 5 Section 199A dividends:

Within your federal return:

Go to Income & Expenses, then Interest and Dividends
Click Start or Revisit next to Dividends on 1099-DIV
On the screen that says Let's get the info from your 1099-DIV, check the box My form has info in other boxes (this is uncommon)
Other boxes will populate, enter the 199A dividends in Box 5.

@marchristensen1

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