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Cut-Throat 02-26-2018 06:15 PM

Differences in Vanguard Reports?
 
While doing some Tax Planning... I looked at the 1099-Div Form that Vanguard Sent me for 2017 and then running the Dividends and Capital Gains Report under my Account at the Vanguard Website for Taxable Account, they don't match. They are close but It seems like they match. I only have 1 Taxable Account with Vanguard, so it's pretty simple.

Any Idea Why they don't match?

RunningBum 02-26-2018 06:16 PM

Did you convert to a brokerage account this year? You'll get two 1099s if you did.

meierlde 02-26-2018 06:32 PM

Quote:

Originally Posted by Cut-Throat (Post 2018018)
While doing some Tax Planning... I looked at the 1099-Div Form that Vanguard Sent me for 2017 and then running the Dividends and Capital Gains Report under my Account at the Vanguard Website for Taxable Account, they don't match. They are close but It seems like they match. I only have 1 Taxable Account with Vanguard, so it's pretty simple.

Any Idea Why they don't match?

Recall that short term capital gains get folded into ordinary dividends, but not qualified dividends. Perhaps one of your mutual funds threw off some short term capital gains. (The rate on STGs and on non qualified dividends is the same so combining them saves some paper) For example I have some MHD and although it is a muni bond fund it does throw off capital gains, the short term gains show up as ordinary dividends on the vanguard 1099

Cut-Throat 02-26-2018 07:26 PM

Yes, I had known about the STG being included on Dividends.... And I did not convert to a Brokerage account...Maybe I'll call Vanguard..

Do yours Match? .... Mine is only off by about 1%.

meierlde 02-26-2018 08:03 PM

In my case on on the long term investment grade bond fund, the total dividends included a short term capital gain on the 1099, while the web site shows the short term gains broken out I.E. the total ordinary dividends paid is equal to the sum of the short term gains and the dividends shown on the web site. (Just like it worked for holdings on the brokerage side as I indicated above)

Cut-Throat 02-26-2018 08:21 PM

I am just talking about the Totals.

LOL! 02-26-2018 08:28 PM

If your Vanguard fund paid foreign taxes, then that money did not show up in your account as a dividend, but it did show up on your 1099-DIV as part of the higher total dividend reported to the IRS.

But in that case, the 1099-DIV will have foreign taxes paid, so box 1 (all dividends) minus box 6? (foreign taxes) is what your online account should say you got.

RunningBum 02-26-2018 08:29 PM

Mine is off in VTIAX by the amount of foreign tax paid, and also there is a money market dividend that is dated 1/2/18 but shows in my 2017 1099-DIVs, and not the online totals.

Cut-Throat 02-26-2018 08:45 PM

Quote:

Originally Posted by LOL! (Post 2018074)
If your Vanguard fund paid foreign taxes, then that money did not show up in your account as a dividend, but it did show up on your 1099-DIV as part of the higher total dividend reported to the IRS.

But in that case, the 1099-DIV will have foreign taxes paid, so box 1 (all dividends) minus box 6? (foreign taxes) is what your online account should say you got.

Bingo! ---- That's the Reason. Thanks!

audreyh1 02-27-2018 06:16 AM

Quote:

Originally Posted by Cut-Throat (Post 2018082)
Bingo! ---- That's the Reason. Thanks!

Yeah - that causes a discrepancy between what is reported as taxable income (usually after the year is over) and what has actually been received.


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