Before you begin preparing Form 1099-DIV filing, it is important that you know what information you need. We’ve compiled the following 4 key topics in our Form 1099-DIV Guide that may help you to correctly and timely complete your filing.
What’s new for Form 1099-DIV?
The electronic filing threshold has been decreased to 10 forms. This means that filers with more than 10 forms total (across all form types) must submit an electronic filing.
Form 1099-DIV Guide – Key Topics
Our Form 1099-DIV guide identifies 4 key topics that will help you get started with your filing.
Determine who receives Form 1099-DIV
Forms 1099-DIV are completed for each person who has been paid dividends and other distributions on stock of $10 or more.
Gather the information to prepare Form 1099-DIV
The information needed for preparing Form 1099-DIV includes the taxpayer names, addresses, and identification numbers for the reporting business (“payer”) and the recipient (“payee”), as well as the amounts paid to the recipient.
Verify your information
It is important to take the time to review the information being reported on your Forms 1099-DIV for accuracy before distributing and filing, including the payment amounts and taxpayer information. This will minimize the risk of incurring penalties and fines.
Distribute and file
The IRS and recipient each require copies of the 1099-DIV form, as well as some state tax departments. Check out our Distribute and File Form 1099-DIV Guide to see where each copy goes.
Form 1099 Deadlines
As a best practice, we recommend starting your filings as early as possible. This ensures you have ample time to collect the required information, complete the necessary forms, and verify the information for possible typos and other errors.
The IRS filing season 2024 deadlines for tax year 2023 are as follows:
| 2024 Deadlines (TY2023) | IRS Paper File Deadline | IRS E-file Deadline | Recipient Copy / Furnishing Deadline |
|---|---|---|---|
| Form 1099-NEC | January 31, 2024 | January 31, 2024 | January 31, 2024 |
| Form 1099-MISC | February 28, 2024 | April 1, 2024 | January 31, 2024 |
| Form 1099-DIV | February 28, 2024 | April 1, 2024 | January 31, 2024 |
| Form 1099-INT | February 28, 2024 | April 1, 2024 | January 31, 2024 |
Please note that these are just the federal deadlines. Please verify with your state for any state requirements and the proper submission methods.
Many states participate in the Combined Federal/State Filing program for the submission of Forms 1099-B, DIV, G, INT, K, MISC, NEC, OID, PATR, and R. Check if your state participates on our CF/SF list.
Conclusion
Use this Form 1099-DIV Guide along with our Essential Guide and become a master at your 1099-DIV filing. You can also learn more about the transmittal form for Forms 1099 by downloading our Form 1096 PDF Guide.
Lastly, be sure to get started on your 1099 filings as soon as possible to ensure that you’re ahead of the deadlines.
BoomTax, The Boom Post, and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to engaging in any transaction.
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