As a US citizen, in a US taxable brokerage account, I received distributions from MORL, a UBS (Swiss)-sponsored exchange-traded note (ETN). The brokerage account statements label the distributions as non-qualified dividends. However, the 1099 provided by the broker for the relevant tax year does not show these distributions anywhere -- neither on 1099-DIV, -INT, nor -MISC. (Capital gains from selling the ETN are, however, included on 1099-B.)
When asked, the broker says that these are considered as dividends from a foreign source (Switzerland) and that the broker is therefore not required to report them on the 1099. Is this correct? I think other brokers have included similar distributions.
I believe that I am still responsible for reporting these distributions on my tax return since US citizens are taxed on worldwide income. So, how do I know what is the correct category for the MORL distributions (are they indeed non-qualified dividends)? Is there some other tax reporting information I should have received (e.g., from UBS)? My online IRS wage and income transcript does not show any entry corresponding to these distributions.
If they have simply not been reported, is there any special process for listing, e.g., dividends on a tax return when there is not a 1099 showing them?