Qualified Dividend VS Interest

WILMA SOSSAMAN on

I noticed on some of the dividends that I have recorded into
Bivio are recorded as interest and some as qualified
dividends. My question is, does the program automatically
decide/know that the dividend being inputted is qualified
and not interest? Or do I change everything to a qualified
dividend?

Thanks!

Wilma

Laurie Frederiksen on

Dear Wilma,

Dividends and interest are two entirely different things. bivio does not decide which category an entry belongs to when you make manual entries. You determine that when you make the entry.

In general, stocks will pay qualified dividends which you'd enter using the "Income" button on the Accounting>Investments page. The only interest you'd probably receive would be from a cash sweep account you had at a bank or possibly at your broker.

If you don't know now, the income will be classified properly on your 1099's. Once you get them, you can compare them to what is entered in bivio and make any adjustments needed to classify them correctly before you prepare your taxes.

Laurie Frederiksen
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On Tue, Jan 20, 2015 at 5:55 PM, WILMA SOSSAMAN <wsoss@auctions1329.com> wrote:

I noticed on some of the dividends that I have recorded into
Bivio are recorded as interest and some as qualified
dividends. My question is, does the program automatically
decide/know that the dividend being inputted is qualified
and not interest? Or do I change everything to a qualified
dividend?

Thanks!

Wilma

WILMA SOSSAMAN on

Thanks, that is what I thought.

Wilma

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