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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.

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Countries and Languages

CountriesLanguages
USAEnglish

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Extracted Fields

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Basic Form Information

FieldDescription
VoidSpecifies that the processed form should be annulled.
CorrectedSpecifies that the processed form is being submitted to correct data provided earlier.
YearThe reporting fiscal year.

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Payer Details

FieldDescription
NameThe name, address, and phone number of the payer.
StreetThe name, address, and phone number of the payer.
CityThe name, address, and phone number of the payer.
StateThe name, address, and phone number of the payer.
ZIP CodeThe name, address, and phone number of the payer.
CountryThe name, address, and phone number of the payer.
PhoneThe name, address, and phone number of the payer.

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Tax Identification Numbers

FieldDescription
Payer’s TINThe tax identification number assigned to the payer.
Recipient’s TINThe tax identification number assigned to the recipient of the payments.

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Recipient Details

FieldDescription
NameThe name and address of the payment recipient.
StreetThe name and address of the payment recipient.
CityThe name and address of the payment recipient.
StateThe name and address of the payment recipient.
ZIP CodeThe name and address of the payment recipient.
CountryThe name and address of the payment recipient.

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Account and Compliance Information

FieldDescription
Account NumberThe unique number used by the payer to identify the payment recipient.
FATCA Filing RequirementSpecifies that the Foreign Account Tax Compliance Act (FATCA) filing requirement is satisfied.

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Dividend and Distribution Information

FieldDescription
Total Ordinary DividendsThe total amount of ordinary dividends (taxed as ordinary income).
Qualified DividendsThe amount of ordinary dividends (box 1a Total Ordinary Dividends) that meets the criteria for being taxed at a lower tax rate.
Total Capital Gain DistributionThe total amount paid out as capital gain distribution.
Unrecaptured Section 1250 GainThe 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 Unites States Internal Revenue Code.
Section 1202 GainThe 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 GainThe amount of capital gains (box 2a Total Capital Gain Distribution) received from selling and/or trading collectibles (taxed at 28%).
Section 897 Ordinary DividendsThe 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 GainThe 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 DistributionsPayments that were not paid out as either dividends or capital gains distribution.

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Tax Withholding and Special Dividends

FieldDescription
Federal Income Tax WithheldThe total amount withheld as federal income tax.
Section 199A DividendsThe 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 ExpensesThe share of non-taxable expenses incurred by a regulated investment company (RIC), proportional to the payment share of the recipient.

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Foreign Tax Information

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

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Liquidation Distributions

FieldDescription
Cash Liquidation DistributionsThe amount paid out as part of a partial or full company liquidation.
Noncash Liquidation DistributionsNon-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).

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Tax-Exempt Dividends

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

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State Tax Information

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

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Key Fields

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

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Validation Rules

RuleDescription
Complete Form YearChecks 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).