I recently received a 1099-DIV from a mutual fund company and found
that I have something called "Section 199A dividends". The form says
"See Box 5 instructions". The Box 5 instructions say "See the
Instructions for Form 1040".
I went to i1040gi. I found Section 199 on page 29, under "Line 10".
As far as I can tell, it says that I'm supposed to use Form 8995.
Some searching brought me to
, where I see "This amountis reported to you on Form 1099-DIV, line 5." Unfortunately, as faras I can tell, it doesn't say what line on 8995 is goes on.
Looking at the form itself, it appears that it *might* go on line
6 -- if a mutual fund is a "publicly traded partnership". Is this
correct? If not, what do I do with the Box 5 amounts?
A couple of more general questions about 8995:
- Since I have no businesses, how do I fill out Line 1? I assume that
- Line 2 will be 0. Is this correct?
- Line 12 is titled "Net capital gain", but the instructions say that
it is Form 1040 Line 3a plus your net capital gain. On my copy of
Form 1040, Line 3a is qualified dividends. Which is correct?
Going through all of this makes it *look* as if the net effect will
be to put 20% of my S199A dividends on Line 10 of Form 1040. Is
this a correct interpretation for somebody who has no businesses,
trades, jobs, or income properties? (I'm not trying to avoid Form
8995, I'm just trying to understand it.)
- posted 7 months ago