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In my PERSONAL (NOT MYICLUB) STOCK CENTRAL PORTFOLIO I am checking my 1099 from TD Ameritrade against my records. ALL my dividends should be Qualified, but are coming up in MY PORTFOLIO as Non-Qualified. I use the x dividend date. Why did this happen and how do I correct it so my records match the 1099?
Thanks for your help. I know you are busy with clubs now, but I want to resolve this issue if possible.
Janet
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Janet,
What is the company (companies) where the qualified/ordinary dividend discrepancy occurred? Did you have any buy or sell transactions for them?
Russell Malley
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If your 1099 has 2022 AL distributions as qualified dividends, then it is incorrect. Air lease issued a form 8937 declaring all distributions in 2022 were return of capital, not dividends. I checked my dividends and the report shows all as qualified. If you sold shares between the record date and the ex-dividend date, then some or all of a dividend may be non-qualified. StockCentral uses the same method to determine qualified dividends as myICLUB, using the holding period during the 121 day qualifying period around the ex-dividend date. While unlikely, if you have no shares owned recorded and just tracking dividends, StockCentral would report all dividends as non-qualifying. If none of these apply, send me a private message so we can arrange a Zoom meeting so I can see your data. Attached is the relevant page from the AL form 8937.  AL-Form 8937_2022_.pdf (52kb) downloaded 0 time(s).Russell Malley
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Rank: Administration
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Another item that can affect dividend category is the security type designation for the securities in your portfolio. You can check the security type designation by going to Portfolio > Utilities > Edit securities. The page will show a list of all securities in your portfolios. Click the edit icon (a small pencil) next to the name of the security. The default should be Stock-common. You can also click on the Portfolio help link and choose the Qualifying Dividends topic in the left navigation column for some help on designating different security types.
Russell Malley
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My stocks are listed as common stocks. Broker lists dividends as qualifying, but Stock Central has them as non-qualifying.
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