Entries of Mutuial Funds Dividends?

Forum|Forum|6 years ago
March 10, 2020
2 replies
20 views

Client of mine rec'd her statement from TR Price and there's a paragraph in their that indicates the IRS requires entries of mutual funds with dividends, qual dividends, cap gains to be entered at the fund level and not the totals for the family. She also has statements from 3 other mutual funds families that make no mention of this and provided the summaries on the 1099 Div ( along with the specific fund detail as backup, of course.

Who's right? TR Price or others? First I've ever seen this.

ProSeries Professional

This topic has been closed for replies.

Best answer by rbynaker

It depends. Some funds report to the IRS for each separate holding. You can tell by the EINs reported on the 1099. I see this a lot with American Funds. They'll send one "form" but report multiple funds with different EINs on each line.

Rick

rbynakerAnswer

Level 13

It depends. Some funds report to the IRS for each separate holding. You can tell by the EINs reported on the 1099. I see this a lot with American Funds. They'll send one "form" but report multiple funds with different EINs on each line.

Rick

J

jnd2546Author

Level 5

I see. So it depends on whether funds in the family have identical or unique EIN's.

Got it! Thanks!

Sign up

Login with SSO

Let's get you signed in

Login with SSO