Vanguard Consolidated Form 1099 Box 1 and total dividend not matching

Forum|Forum|3 years ago
April 15, 2023
2 replies
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Hi, I auto imported Vanguard Consolidated Form 1099, but the amount in Box 1a (1a- Total ordinary dividends (includes lines 1b, 5, 2e) ) which is said to include Qualified dividend, etc, did not match the number Turbotax imported. It seems to come from the "Total Dividends & distributions" in the Details section.

So which number should I report? Box 1a, or the "Total Dividends & distributions" turbotax imported? The numbers don't match and I can't tell where each number comes from.

TurboTax Deluxe Online

hbl3973

Employee

aiayumi,

I would download the actual 1099 report, go to the 1099-DIV section and edit the Vanguard imported numbers to match the actual boxes on the 1099-DIV as those are the numbers that were reported to the IRS.

GeorgeM777

Use the number from your 1099-B where you see total ordinary dividends and qualified dividends. You are correct in that the total ordinary dividend amount will include the qualified dividends. In TurboTax you will want to enter both amounts, the ordinary dividends as well as the qualified dividends. TurboTax will separately calculate the tax due on the qualified dividends which will be less than the tax due on the ordinary dividends. When you download your completed return, you will be able to review the tax applied, if any, to your qualified dividends by reviewing the Qualified Dividends and Capital Gain Tax Worksheet.

@aiayumi

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