1099 vs. 1065
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1099 vs. 1065 The 1065 form shows we had ordinary dividends of $93 but on the 1099 it shows ordinary dividends of $96. It also shows federal tax withheld of $3 so the difference would equal the $93 showing up on the 1065. Am I thinking about that correctly? Otherwise, how do I reconcile the two forms? That could very well be the reason. You really won't know unless you check
out the dividends as shown on your bivio Income statement against the 1099
detail. On the other hand, it wouldn't be the end of the world if you just let
that $3.00 difference stand, and file the return as is.
Rip West
Saint Paul, MN You're going to need help from bivio support to straighten this out. However, the one thing you should do immediately is contact your broker and find out why they are withholding tax on your account. This should only happen if you've given them the wrong tax ID number for the club.
Another possibility is that you have a foreign dividend where foreign tax was withheld. If that's the case you made an error in entering the foreign dividend. You probably entered the net cash received instead of the gross dividend and foreign tax as separate entries on the same transaction screen.
Ira Smilovitz
Join me at InvestEd 2010
Investor Education at Its BestTM Baltimore, MD August 6 - 8, 2010 http://www.investor-education2010.org/ In a message dated 02/20/10 10:23:40 Eastern Standard Time, abutler911@bivio.com writes:
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