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Form 1099 DIV qualified dividends

VAAcct434
Level 2

I'm amending a Form 1065 due to a corrected 1099 DIV received to reclassify ordinary dividends as qualified. It appears that I must enter the total in page 4 Box 6a and 6b in order to calculate correctly.  Is this true?  I don't want the K-1 recipients to think that it is a duplicate entry.  Please advise!

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3 Comments 3
sjrcpa
Level 15

Can you amend the 1065 instead of doing an Administrative Adjustment?


Ex-AllStar
VAAcct434
Level 2

Yes, I'm amending the 1065 and filing electronically. The entry was confusing because when I attempted to delete the ordinary dividend amount from line 6a and just enter the qualified dividend amount on 6b, I got an error.  In re-reading the IRS instructions for these line items, I now see that the total amount of taxable dividends, including the qualified dividend amount goes on line 6a and the qualified dividend amount goes on line 6b.  On the K-1s, it might appear to the recipients that we are reporting duplicate dividend income, however, their tax advisors should be able to explain that this is just a qualification.

sjrcpa
Level 15

You are correct.


Ex-AllStar