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#1
02-17-2004, 09:50 PM
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 Re: Ordinary versus Qualified John wrote: - quote - > I receved my 1099-DIV and it lists say $200 as Qualified
Both 1a and 1b should probably be the same in your case.> Dividends and has this amount in box 1b. I do not see > anything about a box 1a for Ordinary dividends. Do I place > this $200 in both box 1a and 1b? When I place this in just > 1b, I actually get money back. Thanks. Yes, use same amount for both. Cheer$, Harlan Lunsford, EA who just saw his first 1099 from a mutual fund with qualified dividends! (you know who you are) << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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02-17-2004, 09:30 PM
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| Re: Ordinary versus Qualified jriker1[at]yahoo.com JR posted: - quote - > I receved my 1099-DIV and it lists say $200 as
Sounds like the payer decided to save some ink. Yes, the> Qualified Dividends and has this amount in > box 1b. I do not see anything about a box 1a > for Ordinary dividends. Do I place this $200 in > both box 1a and 1b? When I place this in just > 1b, I actually get money back. $200 presumably should have appeared in both 1a and 1b -- since dividends can't be Qualified unless they are first paid. So please report the $200 as dividend income (line 9a on Form 1040) and the *same* $200 as *Qualified* dividends on the new line 9b. You will note it is indented, and therefore not added into the totals for the "far right" column. The Qualified Dividend is taxed at a lower rate, and that reduces your taxes due. The calculation is either on the Worksheet for line 41, or on Schedule D. Bill << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
02-16-2004, 06:10 PM
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| Ordinary versus Qualified I receved my 1099-DIV and it lists say $200 as Qualified Dividends and has this amount in box 1b. I do not see anything about a box 1a for Ordinary dividends. Do I place this $200 in both box 1a and 1b? When I place this in just 1b, I actually get money back. Thanks. JR << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| ordinary, qualified, versus |
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