Income providers send our clients lots of tax data to enter on their tax returns. In addition to knowing what the forms are about, it makes it easier if we know why IRS requests the information and how the data requests came about.

In this class, we’ll discuss Forms 1099-INT, OID, B and DIV. The law passed in 2008, made changes in the information to be reported to taxpayers on Forms 1099-INT, 1099-OID and 1099-B beginning in 2011. Form 1099-DIV has had a few tweaks since 2003 when “qualified dividends” became a thing we’ll talk about them as well. To complete your understanding, we will look at the actual forms issued by many national brokerage firms.