How do I report this Form 1099-DIV I received from my mutual fund?

To report a Form 1099-DIV received from a mutual fund, follow these steps based on the type of distributions reported on the form:

1. Ordinary Dividends (Box 1a):
   • Report the total ordinary dividends on Form 1040, line 3b.
   • If the total ordinary dividends exceed $1,500 or you received ordinary dividends as a nominee, you must first report them on Schedule B (Form 1040), Part II, line 5. Then, transfer the total from Schedule B, line 6, to Form 1040, line 3b.
2. Qualified Dividends (Box 1b):
   • Report qualified dividends on Form 1040, line 3a.
   • If you are required to use Schedule B due to the amount of ordinary dividends, include the qualified dividends on Schedule B as well.
3. Capital Gain Distributions (Box 2a):
   • Report capital gain distributions on Form 1040, line 7.
   • If you received capital gain distributions as a nominee, report only the amount that belongs to you on line 7 and include a statement showing the full amount received and the amount received as a nominee.
4. Exempt-Interest Dividends:
   • Report exempt-interest dividends on Form 1040, line 2a.
5. Other Specific Gains:
   • If the Form 1099-DIV includes amounts such as unrecaptured section 1250 gain, section 1202 gain, or 28% rate gain, these should be reported in the appropriate sections of Schedule D (Form 1040).
6. Backup Withholding:
   • If any federal income tax was withheld under the backup withholding rules, report this amount on Form 1040, line 25b.
7. Nominee Distributions:
   • If you received dividends as a nominee, you must give the actual owner a Form 1099-DIV and file Forms 1096 and 1099-DIV with the IRS. Report the total ordinary dividends on Schedule B, line 5, and subtract the nominee distributions to arrive at the amount to be reported on line 6.
8. Reinvested Dividends:
   • Reinvested dividends should be included in the total dividends reported on Form 1040, line 3b, and qualified dividends on line 3a, as applicable.

By following these steps, you can accurately report the various types of distributions from your mutual fund as indicated on Form 1099-DIV.

Sources:
Publication 564
2023 Instructions for Schedule B (2023)
1040 (2023)
Instructions for Form 1099-DIV (01/2022)
Instructions for Schedule K-1 (Form 1041) for a Beneficiary Filing Form 1040 or 1040-SR (2023)
Shareholder's Instructions for Schedule K-1 (Form 1120-S) (2023)