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Old 04-11-2016, 10:56 PM
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1099-DIV on 1040 9a,9b and Sch D line 13?

I have a 1099-DIV with amounts in box 1a, 1b, and 2a. I also sold a second home this year so I have capital gains. Is it correct have the 1099-DIV amounts on the 1040 line 9a and 9b in addition to line 13 on schedule D? It feels like I'm missing something here.

I should add this is for dividends from a mutual fund.

Thank you!
Rodger



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Old 04-12-2016, 12:27 AM
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I have a 1099-DIV with amounts in box 1a, 1b, and 2a. I also sold a second home this year so I have capital gains. Is it correct have the 1099-DIV amounts on the 1040 line 9a and 9b in addition to line 13 on schedule D? It feels like I'm missing something here.

I should add this is for dividends from a mutual fund. ======>>Dividends you receive from your mutual fund are taxable;
you received a 1099-DIV at the end of the year listing your dividend income information. Your brokerage also provides this information to the IRS. The tax rate on your dividends varies, and depends on the type of dividend paid out to you. You need to report the amount on line 1a on 1099DIV on line 9a of 1040. This box represents the total amount of ordinary dividends you received from the mutual fund. These dividends are subject to your ordinary income tax rate, I mean your marginal tax rate.you need to report the amount shown on line 9b of your tax return. Amounts shown in Box 1b of your 1099-DIV can be classified as qualified dividends. In most cases, these dividends are subject to the capital gains tax rate, which is often lower than your ordinary income tax rate. However, in some cases, qualified dividends might not receive the special rate. This occurs when you sell your shares on a date that is within 60 days before or 60 days after the ex-dividend date. If this instance, you must use the ?Qualified Dividends and Capital Gain Tax Worksheet? to determine if you qualify for the special rate.also you need to report your dividends on Sch B of 1040. If your total ordinary dividends received equals more than $1.5K, you must itemize the dividends on IRS Sch B and send the form with your tax return.
You need to report the amount shown in box 2a of 1099DIV on Sch D of Form 1040, line 13. But, if no amount is shown in boxes 2c?2d and your only capital gains and losses are capital gain distributions, you may be able to report the amounts shown in box 2a on line 13 of Form 1040 rather than Sch D.



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