Reporting Dividends
Dividend and Interest Income
Dividends and interest income are paid to you are reported by the payer to the IRS on Form 1099.
The IRS uses Form 1099 to check the income you report. If you fail to report income reported on Form 1099, you will receive a statement asking for an explanation and a bill for tax deficiency. If you receive a Form 1099 that you believe is incorrect, contact the payer for a corrected form.
You will receive copies of:
- Forms 1099-DIV, for dividends
- Forms 1099-INT, for interest income
- Forms 1099-OID, for original issue discount
