Form 1099-DIV, Dividends and Distributions - Document Skill

The Form 1099-DIV, Dividends and Distributions skill extracts data from Forms 1099-DIV, which are annual reports about income distribution and dividend payments. These forms are filled out by banks and other financial institutions and are provided to both the US Internal Revenue Service (IRS) and each recipient of such payments. A separate report has to be compiled for each such recipient. The Form 1099-DIV, Dividends and Distributions skill is a preview skill. It has been trained on a limited set of documents and is designed to help you quickly get started with processing Forms 1099-DIV. For production use, you may need to uptrain the skill with your own document samples. This skill recognizes handwritten text. The option is enabled by default. If you do not import handwritten forms, disable the Handwritten option in the skill settings.

Countries and Languages

Countries	Languages
USA	English

Extracted Fields

Basic Form Information

Field	Description
Void	Specifies that the processed form should be annulled.
Corrected	Specifies that the processed form is being submitted to correct data provided earlier.
Year	The reporting fiscal year.

Payer Details

Field	Description
Name	The name, address, and phone number of the payer.
Street	The name, address, and phone number of the payer.
City	The name, address, and phone number of the payer.
State	The name, address, and phone number of the payer.
ZIP Code	The name, address, and phone number of the payer.
Country	The name, address, and phone number of the payer.
Phone	The name, address, and phone number of the payer.

Tax Identification Numbers

Field	Description
Payer’s TIN	The tax identification number assigned to the payer.
Recipient’s TIN	The tax identification number assigned to the recipient of the payments.

Recipient Details

Field	Description
Name	The name and address of the payment recipient.
Street	The name and address of the payment recipient.
City	The name and address of the payment recipient.
State	The name and address of the payment recipient.
ZIP Code	The name and address of the payment recipient.
Country	The name and address of the payment recipient.

Account and Compliance Information

Field	Description
Account Number	The unique number used by the payer to identify the payment recipient.
FATCA Filing Requirement	Specifies that the Foreign Account Tax Compliance Act (FATCA) filing requirement is satisfied.

Dividend and Distribution Information

Field	Description
Total Ordinary Dividends	The total amount of ordinary dividends (taxed as ordinary income).
Qualified Dividends	The amount of ordinary dividends (box 1a Total Ordinary Dividends) that meets the criteria for being taxed at a lower tax rate.
Total Capital Gain Distribution	The total amount paid out as capital gain distribution.
Unrecaptured Section 1250 Gain	The amount of capital gains (box 2a Total Capital Gain Distribution) received from the sale of depreciated real property and taxed in accordance with Section 1250 of the United States Internal Revenue Code.
Section 1202 Gain	The amount of capital gains (box 2a Total Capital Gain Distribution) received from the sale of small business corporation stock qualifying for exclusion under section 1202 of the United States Internal Revenue Code.
Collectibles Gain	The amount of capital gains (box 2a Total Capital Gain Distribution) received from selling and/or trading collectibles (taxed at 28%).
Section 897 Ordinary Dividends	The amount of ordinary dividends (box 1a Total Ordinary Dividends) received from the disposition of United States real property interest (USRPI) in accordance with section 897 of the United States Internal Revenue Code.
Section 897 Capital Gain	The amount of capital gains (box 2a Total Capital Gain Distribution) received from the disposition of United States real property interest (USRPI) in accordance with section 897 of the United States Internal Revenue Code.
Nondividend Distributions	Payments that were not paid out as either dividends or capital gains distribution.

Tax Withholding and Special Dividends

Field	Description
Federal Income Tax Withheld	The total amount withheld as federal income tax.
Section 199A Dividends	The amount of ordinary dividends (box 1a Total Ordinary Dividends) either paid out by a real estate investment trust (REIT) and taxed at a lower rate, or by a regulated investment company (RIC) in accordance with section 199A of the United States Internal Revenue Code.
Investment Expenses	The share of non-taxable expenses incurred by a regulated investment company (RIC), proportional to the payment share of the recipient.

Foreign Tax Information

Field	Description
Foreign Tax Paid	The amount of taxes withheld in other countries on dividends and other payments (specified in USD).
Foreign Country or U.S. Possession	The name of the foreign country or United States Territory where the taxed amount specified in box 7 Foreign Tax Paid was withheld.

Liquidation Distributions

Field	Description
Cash Liquidation Distributions	The amount paid out as part of a partial or full company liquidation.
Noncash Liquidation Distributions	Non-cash assets transferred as part of a partial or full company liquidation (specified as the market value of the assets at the time of their distribution).

Tax-Exempt Dividends

Field	Description
Exempt-interest Dividends	Dividends received from mutual funds and/or another regulated investment company (RIC). These dividends are exempt from federal taxes.
Specified Private Activity Bond Interest Dividends	Dividends received from mutual funds and/or another regulated investment company (RIC). These dividends are exempt from federal taxes.

State Tax Information

Field	Description
State 1	State-specific payment information.
State 2	State-specific payment information.
State Identification Number 1	State-specific payment information.
State Identification Number 2	State-specific payment information.
State Tax Withheld 1	State-specific payment information.
State Tax Withheld 2	State-specific payment information.

Key Fields

Year
Payer Details/Name
Payer’s TIN
Recipient’s TIN
Recipient Details/Name
Account Number
Total Ordinary Dividends
Qualified Dividends

Validation Rules

Rule	Description
Complete Form Year	Checks the value in the Year field. It removes any white spaces and converts a 2-digit year into a 4-digit format. If the last two digits are numeric and start with 9, it converts the value to the 1900’s (for example, 99 converts to 1999). Otherwise, it assumes the date is from the 2000’s (for example, 24 converts to 2024).

​Countries and Languages

​Extracted Fields

​Basic Form Information

​Payer Details

​Tax Identification Numbers

​Recipient Details

​Account and Compliance Information

​Dividend and Distribution Information

​Tax Withholding and Special Dividends

​Foreign Tax Information

​Liquidation Distributions

​Tax-Exempt Dividends

​State Tax Information

​Key Fields

​Validation Rules