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Topic 404 Dividends received, Form 1099 DIV - YouTube
Channel: Maths Platter
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dividends are distributions of property
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a corporation may pay you if you own
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stock in that corporation corporations
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pay most dividends in cash however they
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may also pay them as stock of another
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corporation or as any other property you
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also may receive distributions through
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your interest in a partnership anok
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state a trust a subchapter S corporation
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or from an association that's taxable as
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a corporation a shareholder of a
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corporation may be deemed to receive a
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dividend if the corporation pays the
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debt of its shareholder the shareholder
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receives services from the corporation
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or the shareholder is allowed the use of
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the Corporations property additionally a
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shareholder that provides services to a
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corporation may be deemed to receive a
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dividend if the corporation pays the
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shareholder service provider in excess
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of what it would pay a third party for
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the same services a shareholder may also
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receive distributions such as additional
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stock or stock rights in the
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distributing corporation such
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distributions may or may not qualify as
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dividends you should receive a form 1099
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div dividends and distributions from
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each pair for distributions of at least
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and dollars if you're a partner in a
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partnership or a beneficiary of a next
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eight or trust you may be required to
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report your share of any dividends
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received by the entity whether or not
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the dividend is paid on to you your
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share of the entity's dividends is
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generally reported to you on a schedule
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k-1 dividends are the most common type
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of distribution from a corporation
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they're paid out of the earnings and
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profits of the corporation dividends can
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be classified either as ordinary or
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qualified whereas ordinary dividends are
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taxable as ordinary income qualified
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dividends that meet certain requirements
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are taxed at lower capital gain rates
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the payer of the dividend is required to
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correctly identify each type and amount
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of dividend for you when reporting
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on your form 1099 div for tax purposes
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for a definition of qualified dividends
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refer to publication 550 investment
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income and expenses on IRS website
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distributions that qualify as a return
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of capital are dividends a return of
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capital is a return of some or all of
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your investment in the stock of the
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company a return of capital reduces the
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adjusted cost basis of your stock for
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information on basis of assets refer to
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tropic 703 a distribution generally
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qualifies as a return of capital if the
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corporation making the distribution
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doesn't have any accumulated or current
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year earnings and profits once the
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adjusted cost basis of your stock has
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been reduced to zero any further non
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dividend distribution is a taxable
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capital gain that you report on form
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8949 sales and other dispositions of
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capital assets and form 1040 Schedule D
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capital gains and losses regulated
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investment companies like mutual funds
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exchange-traded funds money market funds
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etc and real estate investment trusts
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may pay capital gain distributions
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capital gain distributions are always
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reported as long-term capital gains you
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must also report any undistributed
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capital gain that regulated investment
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companies or real estate investment
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trusts have designated to you in a
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written notice they report these
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undistributed capital gains to you on
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Form 2439 notice to shareholder of
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undistributed long-term capital gains
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for information on how to report
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qualifying dividends and capital gain
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distributions refer to the form 1040
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instructions or form 1040 instructions
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form 1099 div should break down the
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distribution into the various categories
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if it doesn't contact the payer
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must give your correct Social Security
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number to the payer of your dividend
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income if you don't you may be subject
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to a penalty and/or backup withholding
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for more information on backup
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withholding refer to topic 307 if you
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receive over $1,500 of taxable ordinary
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dividends you must report these
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dividends on Form 1040a or 1040 Schedule
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B interest and ordinary dividends if you
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receive dividends in significant amounts
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you may have to pay estimated tax to
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avoid a penalty see estimated taxes for
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more information or visit do you have to
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pay estimated tax on IRS website you may
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find more information on dividend income
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in publication 550 on IRS website
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