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Negative dividends on 1099-DIV

  • 1.  Negative dividends on 1099-DIV

    Silver Most Valuable Member
    Posted 04-06-2022 03:04 PM
    Hi All,

    Taxpayer received a composite 1099 with negative dividends in box 1a from a REIT, making the total ordinary dividends reported in box 1a less than the total qualified dividends reported in box 1b. My tax software diagnostics, I am using Drake, is generating an invalid data code saying qualified dividends cannot be greater than ordinary dividends and this must be corrected before e-filing is allowed.
    Any and all comments would be much appreciated. 

    Debbie

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    Deborah J. Zelen, CPA
    917-923-5331
    debbie@djzcpa.com
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