Why no 1009-DIV?

QwikOne

I now have one stock where I am not reinvesting the dividends. I set up a new category for those checks when deposited to the bank, but when setting up the category tax info tab there is no 1099-DIV form in Quicken. Obviously, the individual checks aren't part of a 1099-DIV, but isn't that a tracking mechanism for each quarterly check?

Boatnmaniac

The tax line item for investment dividends is Schedule B:Div income, not 1099-DIV. 1099-DIV is a tax form that is for the taxpayer. That 1099-DIV data is what feeds into Schedule B. Schedule B is what gets reported to the IRS when tax returned are filed.

You will not find a 1099-DIV form in Quicken Classic. Instead, it will be captured as Sch B Div Income in the tax reports.

There is a default category in Quicken for dividends which already has the correct tax line item associated with it: _DivInc. If you use the transaction entry form it will be properly reported on Sch B automatically without needing to enter the category. You can then have the dividend transferred from that transaction entry form to your bank account. And you could even add a note to the Memo field stating what the purpose of the transfer is. No other unique categories are needed nor a check number is needed.