1099 Forms Online Submission of Form 1099-DIV for 2023 Tax Year

Image of Form 1099-DIV 2023

What Data is Needed to Submit Form 1099-DIV Electronically?

Sections For Entering Payer Information

Image of Form 1099 Payer Boxes 2023

Complete the Payer Details section. This includes:

  • Name
  • Address
  • Contact phone number
  • Tax Identification Number (TIN)

Sections For Entering Recipient Information

Image of Form 1099 Recipient Boxes 2023

Complete the Recipient Details section. This includes:

  • TIN
  • Name
  • Street Address
  • City, State, Zip

All Features Included

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This includes:

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  • State E-File
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  • Official IRS Copy Download as PDF
  • Unlimited Corrections

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Amount boxes for Form 1099-DIV

Image of Form 1099-MISC Boxes 2023

Box 1a Total ordinary dividends

Enter dividends, including dividends from money market funds, net short-term capital gains from mutual funds, and other distributions on stock.

Box 1b Qualified dividends

Enter the portion of the dividends in box 1a that qualifies for the reduced capital gains rates.

Box 2a Total capital gain distr.

Enter total capital gain distributions (long-term). Include all amounts shown in boxes 2b, 2c, 2d, and 2f.

Box 2b Unrecap. Sec. 1250 gain

Enter any amount included in box 2a that is an unrecaptured section 1250 gain from certain depreciable real property.

Box 2c Section 1202 gain

Enter any amount included in box 2a that is a section 1202 gain from certain qualified small business stock.

Box 2d Collectibles (28%) gain

Enter any amount included in box 2a that is a 28% rate gain from sales or exchanges of collectibles.

Box 2e Section 897 ordinary dividends

Enter any amount included in box 1a that is section 897 gain from dispositions of USRPI.

Box 2f Section 897 capital gain

Enter any amount included in box 2a that is section 897 gained from dispositions of USRPI.

Box 3 Nondividend distributions

Enter non-dividend distributions.

Box 4 Federal income tax withheld

Enter backup withholding. Recipients who have yet to furnish their TINs to you in the manner required are subject to backup withholding.

Box 5 Section 199A dividends

Enter the qualified REIT dividends paid by a REIT or section 199A dividends paid by a RIC to the recipient. This amount is included in the amount reported in box 1a.

Box 6 Investment expenses

Enter the recipient's pro rata share of certain amounts deductible by a non-publicly offered RIC in computing its taxable income.

Box 7 Foreign tax paid

Enter foreign tax paid on dividends and other distributions on stock.

Box 8 Foreign country or U.S. possession

Enter the name of the foreign country or U.S. possession for which the foreign tax was paid and reported in box 7.

Box 9 Cash liquidation distributions

Enter cash distributed as part of a liquidation.

Box 10 Noncash liquidation distributions

Enter noncash distributions made as part of a liquidation. Show the fair market value as of the date of distribution.

Box 11 FATCA filing requirement

Check the box if you are a U.S. payer reporting on Form(s) 1099 (including reporting distributions in boxes 1 through 3 and 9, 10, 12, and 13 on this Form 1099-DIV.

Box 12 Exempt-interest dividends

Enter exempt-interest dividends from a mutual fund or other RIC. Include specified private activity bond interest dividends in box 13 and the total for box 12.

Box 13 Specified private activity bond interest dividends

Enter exempt-interest dividends paid by a RIC on specified private activity bonds to the extent that the dividends are attributable to interest on the bonds received by the RIC minus an allocable share of the expenses.

Box 14 - 16 State or Local Income Tax Withheld

Image of Form 1099-DIV State Boxes 2023

Report any state or local income tax withheld from the payments made to the recipient.

To learn more about Form 1099-Div Instructions, Click here.

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Commonly Asked Questions

What is IRS Form 1099-DIV?

Form 1099-DIV, Dividends and Distributions, is a form that banks and other financial establishments issue to investors who have garnered dividends and distributions from any investment within a year. Investors can receive multiple 1099-DIVs. Each 1099-DIV form must be disclosed in the investor’s tax return.

Who needs to file Form 1099-DIV?

If you're a payer, you're obligated to file Form 1099-DIV for each recipient under the subsequent conditions:

  • Payer disbursed dividends, including capital gain dividends, exempt-interest dividends, and other stock distributions of $10 or more
  • Payer withheld and disbursed any foreign tax on dividends and other stock distributions
  • Payer retained any federal income tax on dividends as per the backup withholding rules
  • Payer disbursed $600 or more during a liquidation

What is IRS Form 1096?

Form 1096, Annual Summary and Transmittal of U.S. Information Returns, serves as a summary for tax Forms 1097, 1098, 1099, and W-2G. If you submit Form 1096 and 1099s forms on paper, you must complete Form 1096 and send it to the IRS. Form 1096 is not required for electronic filing.

However, when e-filing these forms with BoomTax, there is no need to fill out Form 1096. For your records, Form 1096 will be auto-generated in your account.

Is There a Requirement To Submit Form 1099-DIV With The State?

Certain states require filing Form 1099-DIV to disclose the State tax withheld from the 1099-DIV payment, along with any supplementary data demanded by the respective state.

Find your State Filing Requirements to see if your state participates in the Combined Federal State Filing Program (CFSF) and begin with BoomTax for filing your Form 1099 with both Federal and State entities.

For the 2023 tax season two states have joined the CFSF program, Pennsylvania & District of Columbia.

What is the Penalty for Missing Form 1099 Deadline?

Failing to file Form 1099 by the deadline or meeting the deadline but providing incorrect recipient information can result in IRS penalties ranging from $60 to $630, depending on how late the form is submitted. The IRS has increased the penalty amounts for the 2024 filing year.

After the deadline, but within 30 days

$60 per form

After 31 days - August 1st

$120 per form

After August 1st, or not at all

$310 per form

Intentionally not filing

$630 per form

1099 penalties may be subject to the following:

  • Furnishing incorrect information on a return
  • Failure to provide the required information
  • Late filing of returns
  • Paper filing when required to file electronically (E-file 1099 if you have 10 or more information returns)

The IRS is accustomed to changing rules year-to-year, sometimes even in the middle of the current tax season! This is why having the most accurate information about the IRS requirements and deadlines for filing any Form 1099 is essential. Use reliable tax software to e-file your forms and stay updated on any changes in regulations or deadlines.

What are the 1099 Deadlines for 2024?

  • January 31st, 2024
    Recipient Copies

    Form 1099s must be distributed to the recipient on or before January 31st

  • February 28th, 2024
    Paper Filing

    Paper filing must be filed with the IRS on or before February 28th

  • April 1st, 2024

    Form 1099s must be e-filed directly to the IRS on or before April 1st

Visit our deadlines article to learn more about Form 1099 due dates.

Note: If the filing deadline lands on a Saturday, Sunday, or legal holiday, the due date will automatically be extended to the following business day.

The exception to these deadlines above is for filing Form 1099-NEC. Depending on the filing method, there is a month's advancement on the recipient and IRS copies being January 31st. Get started with BoomTax and file your 1099 with the IRS, state, and mail recipient copies on time.

If you find errors after filing your 1099 return with the IRS, promptly correct the information and submit the corrected Form 1099 and Form 1096 to the IRS. Also, provide your recipient with an updated 1099 showing the updated details. If you need to correct any state or local tax department information, file the form with the appropriate agencies, not the IRS.

What are the different Form 1099 Copies?

Each Form 1099 has five different copies with their specific purpose:

Copy A

IRS copy for paper filing.

Copy 1

Filed with the State Tax Department.

Copy B

Recipient copy.

Copy 2

Recipient state copy used for state income tax reporting.

Copy C

Payer's copy for their records.

Get started with , and file your 1099 tax forms with federal/state and mail recipient copies from one place. BoomTax will never remove past years' filings, and you can continue to make corrections at any time, no matter the year. File my Now!

What are the Types of 1099 Corrections?

Suppose you have any mistakes on your previously submitted Form 1099. In that case, rectifying them, submitting an amended form to the IRS, and providing the updated forms to the recipient is essential.

Employers can address two distinct types of errors in Form 1099 corrections, Type 1 and Type 2:

Type 1

Type 1 errors involve:

  • Reporting inaccurate payment amounts
  • Utilizing incorrect codes
  • Not filing for the appropriate recipient

Type 2

Type 2 errors involve:

  • An omitted or incorrect payee TIN
  • An omitted or incorrect payee Name
  • Filing the return using an improper form

You must file Form 1096 with the corrected return unless you're filing the correction electronically.

Ready to file your 1099 correction electronically? and auto-generate Form 1096 for your records at no extra cost. With BoomTax, you can also send the corrected copies to your recipient.

What Does Form 1099-DIV Extension Require?

If you require more time to submit 1099-DIV to the IRS, you can request an automatic 30-day extension by filing Form 8809. The Tax Extension Form 8809 can be submitted digitally or via paper. Login to your BoomTax Account and let BoomTax do the hard work for YOU!

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