1099-DIV Dividend Income
Question: I received dividends from my credit union. How do I report this income?
Answer:
Certain distributions commonly referred to as dividends are actually reported as interest:
- They include "dividends" on deposits or share accounts in cooperative banks, credit unions, domestic savings and loan associations, and mutual savings banks.
- Interest income can be reported on Form 1040 (PDF), Form 1040A (PDF), or Form 1040EZ (PDF).
- If your taxable interest income is more than $1,500, be sure to include that income on Schedule B (Form 1040A or 1040) and attach it to your tax return. You cannot file Form 1040EZ if your interest income is more than $1,500.
Additional Information:
Category: Interest, Dividends, Other Types of Income
Subcategory: 1099 DIV Dividend Income
