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