Thank you to everyone for your help. I made the client aware of the issue. He finally responded. There is no broker involved. He spoke to the company's accountant and was told the form is correct. So these are qualified dividends and also 20% deduction dividends. Too good to be true. What would you do? Ignore box 5?  I think I am going to claim it -- I am not responsible for the form 1099-Div.  But, on the other hand, the form is wrong, and the difference in tax is almost 10K.