Dividends

Program Considerations

• You can enter dividend income information through the grid input or the expanded detail.
• The expanded input of the Dividend Income screen is designed to facilitate data entry from a Form 1099-DIV.
• Use 1=taxpayer, 2=spouse to indicate the dividend item relates to either the spouse or the taxpayer. If you leave this field blank, the program assumes the dividend was paid to the taxpayer and spouse jointly.
• The program calculates and prints Schedule B if:
• The taxpayer or spouse has over $1,500 of interest and/or dividend income.
• Any entries have been made for Nominee ordinary dividends in the Dividend input screen.
• The Option for Schedule B is set to Force. Schedule B can be forced to print even when not required in the Options. For additional information on setting this option refer to the Tax Return exercise in the Before You Prepare a Return section (Program Operations tutorial).
• When the number of dividend income items exceeds the number of lines on the Schedule B, the program prints "See Statement" on Schedule B, line 5 and prints a supporting statement listing the dividend income entries.
• When entries are made in the Nominee ordinary dividends input field of Screen 12, Dividend Income, the program calculates and prints a subtotal for line 5 and subtracts the nominee ordinary dividends from the subtotal to arrive at total dividend income on line 6.

How?

To enter a dividend item:

1. Open the sample client.
2. Open the Dividend Income screen from the Contents tab.
   
3. Enter the information from the Dividend table above in the appropriate input fields.

To view a different dividend item:

1. Click the item in the 1099-DIV list.
   

To add a new dividend item:

1. Click Add at the bottom of the 1099-DIV list.
   

To delete a dividend item:

1. Click the item in the 1099-DIV list.
2. Click Delete at the bottom of the 1099-DIV list.
   

Tips & Shortcuts

You can press [Ctrl]+[A] to add another dividend item.

Review

You should have entered the dividend information for the sample client and produced the following results on Form 1040:

Troubleshooting

Problem: I do not see Schedule B for all my clients.

Solution: You must set the Option for Schedule B to Force if the form is not required.

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