PaunchyPirate
Thinks s/he gets paid by the post
I'm starting to file my 2023 taxes. Last year, I moved my money from Vanguard to Schwab, so the Schwab tax forms are new to me.
On my 1099 Composite form that was prepared for me by Schwab, in the Summary pages that are not sent to the IRS, I see the details of Dividends and Distributions. There is a column for "Paid in 2023" and a column for "Paid/Adjusted in 2024 for 2023". What is that latter column supposed to be telling me? I see very weird numbers that I can't relate to anything that actually happened. More than half of my investments that paid a dividend show a value in that latter column. Some of them are even negative numbers.
For example, VTI (Vanguard Total Stock Market ETF) shows $0 in dividends "Paid in 2023" and $17,919.82 in dividends "Paid/Adjusted in 2024 for 2023". Distributions for VTI were made in March, June, Sept and Dec 2023. The December one shows as transacting on 12/27 and processed on 12/27 in my December statement. So I don't think even that one fell into 2024 in any way.
Can a Schwab customer help me figure out what this column is telling me? It doesn't really seem to influence the 1099-DIV. Those numbers seem correct.
Edited to add: I just noticed there are 2 entries for VTI. One in the Non-Qualified Dividends section and one in the Qualified Dividends section. The above VTI numbers are in the Qualified Dividends section. In the Non-Qualified Dividends section, VTI shows $18,926.70 "Paid in 2023" and ($17,919.82) "Paid/Adjusted in 2024" for 2023). So now I'm even more confused.
On my 1099 Composite form that was prepared for me by Schwab, in the Summary pages that are not sent to the IRS, I see the details of Dividends and Distributions. There is a column for "Paid in 2023" and a column for "Paid/Adjusted in 2024 for 2023". What is that latter column supposed to be telling me? I see very weird numbers that I can't relate to anything that actually happened. More than half of my investments that paid a dividend show a value in that latter column. Some of them are even negative numbers.
For example, VTI (Vanguard Total Stock Market ETF) shows $0 in dividends "Paid in 2023" and $17,919.82 in dividends "Paid/Adjusted in 2024 for 2023". Distributions for VTI were made in March, June, Sept and Dec 2023. The December one shows as transacting on 12/27 and processed on 12/27 in my December statement. So I don't think even that one fell into 2024 in any way.
Can a Schwab customer help me figure out what this column is telling me? It doesn't really seem to influence the 1099-DIV. Those numbers seem correct.
Edited to add: I just noticed there are 2 entries for VTI. One in the Non-Qualified Dividends section and one in the Qualified Dividends section. The above VTI numbers are in the Qualified Dividends section. In the Non-Qualified Dividends section, VTI shows $18,926.70 "Paid in 2023" and ($17,919.82) "Paid/Adjusted in 2024" for 2023). So now I'm even more confused.
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