What form do I use for dividends from my banking institution?

Forum|Forum|1 year ago
February 11, 2025
1 reply
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I have received "dividends" (more like interest) from my banking institution (checking and savings) under $10. Do I report this using a 1099-INT or a 1099-DIV. What is the difference?

Best answer by JohnB5677

This would be reported as Interest income on Form 1099-INT

To post this in TurboTax

If this is the first time entering investments

Select Wages & Income
Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
Did you have investment income in 2024? Yes
A list of Financial Institutions will come up
Five boxes will come up
Select the 1099 you have - Continue
How would you like to upload your 1099-INT?
Scroll down. Select [Type it myself]
post your 1099-INT

If you entered a 1099-INT previously

Select Wages & Income
Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
[Add/Edit]
The screen will show previous entries
Select a previously entered record or
[+ Add investment]

JohnB5677Answer

This would be reported as Interest income on Form 1099-INT

To post this in TurboTax

If this is the first time entering investments

Select Wages & Income
Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
Did you have investment income in 2024? Yes
A list of Financial Institutions will come up
Five boxes will come up
Select the 1099 you have - Continue
How would you like to upload your 1099-INT?
Scroll down. Select [Type it myself]
post your 1099-INT

If you entered a 1099-INT previously

Select Wages & Income
Scroll to Investments and Savings1099-B, 1099-INT, 1099-DIV, Crypto Gain/Loss Report
[Add/Edit]
The screen will show previous entries
Select a previously entered record or
[+ Add investment]

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