Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 04-11-2016, 10:56 PM
Junior Member
 
Join Date: Apr 2016
Posts: 1
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



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 04-12-2016, 12:27 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
________________________________________
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.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Negative amount - Line 14 of worksheet for 1040 Line 44 lueykhala Income 1 04-10-2014 04:58 AM
Line 17 1040 as a negative number Brenda Burnside Rental Real-Estate 1 04-17-2012 04:13 PM
Estimated Tax Line 62 1040 flmom2boys Estimated Taxes 1 04-16-2012 02:30 AM
Schedule C or 1040 line 21 - 1099-MISC klf23 Income 1 02-08-2009 12:55 PM
Line 12 of form 1040 binkybumpa Itemized Deductions 1 02-04-2009 02:44 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.