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Subject Author Date
1099-DIV Vic Dura 04-04-2008
|--> Re: 1099-DIV Ernie Klein04-04-2008
|--> Re: 1099-DIV Rich Carreiro04-04-2008
`--> Re: 1099-DIV Bob Sandler04-04-2008
Posted by Harlan Lunsford on April 5, 2008, 1:36 pm
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 ed wrote:
>
> And then there's TDAmeritrade who reports Ordinary Dividends,
> Qualified Dividends and thenyou must add them together for a total of
> all Dividends. Duh.

Oh good grief! Are you kidding? I'm concerned because I remember
doing a return for a client having substantial dividends from TD.

So I looked at the 1099Div instructions from IRS, and it clearly says
that for qualified dividends, enter the PORTION of those in box 1a
(total dividends) that are qualified divs.

I don't know whether or not to be concerned now.

Note to myself. calendar for April 16th; check with client.

ChEAr$,
Harlan Lunsford, EA n LA

--
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Posted by DF2 on April 4, 2008, 4:08 pm
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 In misc.taxes.moderated, Vic Dura wrote:

>I need a reality check. If I receive a 1099-DIV with
>
>1a Total Ordinary Dividends ..... $200.00
>1b Qualified Dividends .............. $100.00
>
>does that mean that the total dividends I received during the year of
>whatever type is $200 or $300?

$200.

>
>Thanks for helping me clear my thinking.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Ernie Klein on April 4, 2008, 4:09 pm
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> I need a reality check. If I receive a 1099-DIV with
>
> 1a Total Ordinary Dividends ..... $200.00
> 1b Qualified Dividends .............. $100.00
>
> does that mean that the total dividends I received during the year of
> whatever type is $200 or $300?

You received a total of $200 dividends. Of that, $100 was qualified.

After the $200 is added to your taxable income, the $100 is used to
calculate (adjust) the amount of tax owed on the taxable income using
the qualified dividends and capital gains tax worksheet (line 44 of the
1040 form.

--
-Ernie-

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Rich Carreiro on April 4, 2008, 4:20 pm
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> I need a reality check. If I receive a 1099-DIV with
>
> 1a Total Ordinary Dividends ..... $200.00
> 1b Qualified Dividends .............. $100.00
>
> does that mean that the total dividends I received during the year of
> whatever type is $200 or $300?

You got $200 in divs, of what $100 was qualified.

--
Rich Carreiro rlc-news@rlcarr.com

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Posted by Bob Sandler on April 4, 2008, 4:29 pm
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Vic Dura wrote:
> I need a reality check. If I receive a 1099-DIV with
>
> 1a  Total Ordinary Dividends ..... $200.00
> 1b  Qualified Dividends .............. $100.00
>
> does that mean that the total dividends I received during the year of
> whatever type is $200  or $300?

Your total dividends were $200. The amount in box 1b is included in
1a. If you look at the fine print on the back of the form, it says
"Box 1b. Shows *the portion of the amount in box 1a* that may be
eligible for the 15% or 5% capital gains rates."

Bob Sandler

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>

Similar ThreadsPosted
Additional ETF Dividend dated 1/31/2007 in a corrected 1099DIV? February 21, 2007, 6:28 pm

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