Hi,
TaxAct, in the "Dividend Income" section, asks for Payer's ID for each stock. I don't have IDs for individual stocks but do for our broker. Do I use the broker's ID, look up the company's ID, or just leave it blank?
Thanks, Gary
I think the program is being entirely too nosy. I'd disregard.
You have confused TaxAct by missing the instruction that you make only one entry for the 1099-DIV (and that has only the broker's name and ID). You don't list each stock.
As I said, it's entirely too nosy. Who cares about the EIN of dividend payer?
It's a useful feature for record-keeping, to match up the worksheets in the program against your 1099's.
But you're right, it doesn't go onto the tax form, so it's not necessary.
in article AJRwl.42597$ snipped-for-privacy@newsfe22.iad, Gary Brown at snipped-for-privacy@charter.net wrote on 3/20/09 8:03 PM:
That is not required on the schedule B as far as I know. Leave it blank. Uncompensated advice guaranteed correct or double your money back
Frank S. Duke, Jr. CPA Cincinnati, OH USA
Is is not the case that that information might still be transmitted when doing an e-file? My understanding is that sometimes e-filing will send more details like that for automated matching and without it, there may be some delays in processing.
Pubs 1345/1346 contain the specs for the 1040 e-file and EIN for dividend payers is not part of those specs.
that the payor documents efiling cares about are W-2s, W-2Gs, and 1099-Rs, since the software I've used (TaxWise) will generate efiles without EINs for issuers of 1099-DIV, 1099-INT, 1099-B, and 1099-MISC (and for that matter doesn't even give you a way to enter the EIN for those payors).
But when I've had some mismatches on W-2s or 1099-Rs because of typos, those efiles have been rejected with a message about a mismatch versus the "IRS Master File", so clearly the payor info on those forms are being sent in.
If you're really curious, there's a pub (1345, I think) that in very 1960s fashion lists the field-by-field specifications for efile data.
-- Rich Carreiro snipped-for-privacy@rlcarr.com
That matches the info in Pubs 1345/1346 which Art pointed out in another response. After his reply, I went and started reading them in more detail.
I was only passing curious. While a mildly interesting aside, there are other pubs I need to spend more time reading...
Thanks Rich and Art
BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.