PhoebeRoberts
Level 11
Level 11

It's income to your guy. IMHO most of the stuff brokers report there is also subject to NIIT, so if that applies, you should make additional entries in Screen 45.3

National Financial Services is the payor of record for multiple broker-dealers who gave your client taxable income. Same as they're the payor of record for multiple corporations who gave your client taxable dividends.