RICS and REITS Dividend Payment Delayed Until January If a regulated investment company (RIC) or a real estate investment trust (REIT) declares a dividend in October,November, or December payable to shareholders of record on a specified date in such a month, the dividends are treated as paid by the RIC or REIT and received by the recipients on December 31 of such year as long as the dividends are actually paid by the RIC or REIT during January of the following year. Report the dividends on Form 1099-DIV for the year preceding the January they are actually paid. See sections 852(b)(7) and 857(b)(9)for RICs and REITs respectively.
Re: Scottrade 1099's. Last year I got one dated 2/15/2011 that was bogus since it left out NLY's 4th Qtr. dividend. On 3/28/2011 I received an amended 1099 dated 3/15/2011, barely in time to unseal my 1040 filing and redo it.
This year I got a 1099 dated 2/15/2012 that, once again, was bogus since it left out NLY's 4th Qtr. dividend. Scottrade's reasoning: They must comply with Federal law to mail out 1099's by a certain date, regardless of their accuracy. And when NLY sends the corrected info, they will send out an amended 1099.
My suggestion: Sit tight until 3/15/2112. And then every day check your Scottrade accout for the amended 1099 rather than waiting for the hard copy. You can't fight fate!