How to Report the Amounts from Form 1099-DIV and 2439 on Your Tax Return_4478

How to Report the Amounts from Form 1099-DIV and 2439 on Your Tax Return When you have investments in stocks, mutual funds, or a real estate investment trust (REIT), you will receive a Form 1099-DIV after the end of the year reporting the dividend income, capital gain distributions, and other information for the year. The amounts from the different boxes on this form need to be reported in Louis Vuitton Outlet Store the correct place in your federal income tax return. If you use tax software and enter the information from the 1099-DIV, the amounts may be automatically assigned to the appropriate place on your return. Form 1099-DIV Ordinary dividends from box 1a are reported on line 9a of Form 1040A or 1040. If your total dividends are more than $1,500 canada goose sale you have to attach Schedule B, Interest and Ordinary Dividends. Louis Vuitton Outlet Store Qualified dividends from box 1b are eligible for capital gains tax rates and are reported on line 9b of Form 1040A or 1040. Capital gain distributions from box 2a are canada goose coat reported on Schedule D, Capital Gains and Losses. But if no amounts are reported in boxes 2b, 2c, or 2d on your Form 1099-DIV and your only capital gains or losses are capital gain distributions, you can report them directly on Form 1040A or 1040. The amounts reported in box 2b, unrecaptured section 1250 gain; box 2c, section 1202 gain; and box 2d, collectibles (28%) gain, are included in the worksheets for Schedule D. If you use tax software, these worksheet calculations may be done automatically. The non-dividend distributions in box 3 are not Cheap Moncler Jackets taxable because they are a return of your investment. You should reduce your basis in the investment by this amount to determine the gain or loss for tax purposes when you eventually sell the shares. If you receive non-dividend distributions for more than the amount you invested, you would have a capital gain. The federal income tax withheld reported in box 4 is the backup withholding tax that applies, for example when you did not provide your taxpayer identification number. This amount should be reported in the taxes withheld section of your tax return. The investment expenses reported in box 5 can be claimed as an itemized deduction on Schedule A subject to the 2% of adjusted gross income limit if you itemize deductions. Any foreign tax paid by the mutual fund or REIT would be reported in box 6. balenciaga outlet You could claim this tax as an itemized deduction on Schedule A or as a credit on Form 1116. Cash or noncash liquidation distributions are reported in box 8 or 9. These are returns of capital and would reduce your basis in the investment. If you receive more than the amount of your investment, you would have a capital gain. Exempt-interest dividends reported in box 10 are reported on line 8b of Form 1040A or 1040 as tax-exempt interest. Specified private activity bond interest dividends reported in box 11 are included in the alternative minimum tax calculation on Form LV OUTLET 6251 if you are subject to that Louis Vuitton Outlet tax. Any state tax withheld as reported in box 14 would be included on your state income tax return. Form 2439 If a mutual fund or REIT decides to hold capital gains and pay taxes on them instead of distributing them to shareholders, you will receive a Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains. Even though you do not receive distributions of the capital gains, you still have to report them on your tax return. But you Louis Vuitton Men can take credit for the taxes paid on them. Total undistributed long-term capital gains indicated in box 1a are reported on Schedule D. The amounts reported in box 1b, unrecaptured section 1250 gain; box 1c, section 1202 gain; and box 1d, collectibles (28%) gain are included in the worksheets for Schedule D. The tax paid by the mutual fund or REIT as reported in box 2 can be claimed as a credit on line 71 of Form 1040, checking box a, 2439. You should note that when you receive a Form 2439, you need to adjust your basis in your investment, increasing it by the difference between the total undistributed long-term capital gains you report (from box 1a) and the tax Moncler Jackets you take credit for (from box 2). This will reduce your gain on the sale when you eventually sell or redeem your shares in the fund. Sources: Form 1099-DIV, Dividends and Distributions, IRS Form 1116, Foreign Tax Credit, IRS Form 2439, Notice to Shareholder of Undistributed Long-Term Capital Gains, IRS Schedule B, Interest and Ordinary Dividends, IRS Schedule A, Itemized Deductions, IRSSchedule D, Capital Gains and Losses, IRS