My client's 2019 1099-DIV from his traditional IRA reports ordinary, qualified and capital gains dividends, all of which were reinvested. Does he need to report these? If so, what is the procedure?
Thanks for any help,
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I agree with Lisa.... I've never seen one either.
I *have* seen, especially in recent years, K-1's for IRA's. Which can be very confusing (and no, those don't get reported on the F 1040).
Ive seen a few of those IRA K-1s too!!
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P.S. Look more closely at the 1099-DIV. If it has the SSN, it is NOT from an IRA.
Here's wishing you many Happy Returns
I'm going to guess that your client has a couple of accounts with a broker. One is an IRA and one isn't. Sounds like you are looking at a 1099 for the "isn't" account and yes, you need to report it.
Ukraine - hang in there