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#8
03-06-2006, 02:31 AM
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 Re: Dividends paid in January for 2005 L K Williams <lanny[at]loxinfo.co.th> writes: - quote - > Rich Carreiro <rlcarr[at]animato.arlington.ma.us> wrote:
That's exactly my point.> > That's not a meaningful distinction. A mutual fund does not > > become not-a-mutual-fund simply because it trades on an > > exchange. > Actually, some mutual funds are traded on exchanges. Only > open-end funds are not exchange traded. However, a number > of closed-end funds do trade on the NYSE and other > exchanges. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#7
03-04-2006, 10:29 PM
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| Re: Dividends paid in January for 2005 Rich Carreiro <rlcarr[at]animato.arlington.ma.us> wrote: - quote - > michaeljc70[at]hotmail.com writes:
Actually, some mutual funds are traded on exchanges. Only> > but there are distinct differences legally and substantively. > What are some of those (aside from trading on an exchange > which is neither a legal nor substantive difference between > ETFs and "mutual funds"). > > Mainly, they are traded on exchanges, mutual fund are not. > That's not a meaningful distinction. A mutual fund does not > become not-a-mutual-fund simply because it trades on an > exchange. open-end funds are not exchange traded. However, a number of closed-end funds do trade on the NYSE and other exchanges. Lanny K. Williams, CPA Nawarat, Williams & Co., Ltd. Income Tax Services for Expatriate Americans << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#6
03-03-2006, 04:50 PM
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| Re: Dividends paid in January for 2005 michaeljc70[at]hotmail.com writes: - quote - > but there are distinct differences legally and substantively.
What are some of those (aside from trading on an exchangewhich is neither a legal nor substantive difference between ETFs and "mutual funds"). - quote - > Mainly, they are traded on exchanges, mutual fund are not.
That's not a meaningful distinction. A mutual fund does notbecome not-a-mutual-fund simply because it trades on an exchange. - quote - > They also have different legal reporting requirements.
Such as?-- Rich Carreiro rlcarr[at]animato.arlington.ma.us << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#5
03-03-2006, 06:05 AM
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| Re: Dividends paid in January for 2005 It basically comes down to less than $25 in taxes. To another persons point, I am getting over $7000 back and to wait until April 1st to get it would be silly. My withholding was appropriate for most of the year, but events at the end of the year caused the big refund. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#4
03-03-2006, 06:05 AM
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| Re: Dividends paid in January for 2005 With all due respect, ETFs are NOT mutual funds. They are LIKE mutual funds, but there are distinct differences legally and substantively. Mainly, they are traded on exchanges, mutual fund are not. They also have different legal reporting requirements. ETFs may be treated like mutual funds for tax purposes, but they are not the same. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#3
03-02-2006, 06:33 AM
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| Re: Dividends paid in January for 2005 - quote - > I received a corrected 2005 1099-DIV for dividends paid to
The company is correct. Your investment may not be a "mutual> my account on 1/7/2006. I already filed my return. I read > the IRS documentation, and it says that mutual fund > dividends paid up to 1/31 to shareholders of record as of > the prior year are taxable in the prior year. However, my > dividends are for an EFT which obviuously is not a mutual > fund and is bought like a stock. Is it treated like a stock > or a mutual fund for this purpose? fund", but it is a Rgulated Invesmtnet Company, to which the January dividend taxable in December rule applies. Now, how much are wetalking about? It is seldome very much, unless there was a big capital gian distribution. If it isn't yor first year is it offset by the same item in '04-05? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#2
03-02-2006, 06:13 AM
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| Re: Dividends paid in January for 2005 <michaeljc70[at]hotmail.com> wrote: - quote - > I received a corrected 2005 1099-DIV for dividends paid to
If you own ETFs and mutual funds, never, ever, ever file> my account on 1/7/2006. I already filed my return. I read > the IRS documentation, and it says that mutual fund > dividends paid up to 1/31 to shareholders of record as of > the prior year are taxable in the prior year. However, my > dividends are for an EFT which obviuously is not a mutual > fund and is bought like a stock. Is it treated like a stock > or a mutual fund for this purpose? your income tax returns before April 1st. I learned this lesson the hard way, as you are now doing, a few years ago. There are ALWAYS amended Forms 1099. They need to revamp the reporting process so that it is no longer the sham, requiring revisions, that it is. << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#1
03-02-2006, 06:13 AM
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| Re: Dividends paid in January for 2005 michaeljc70[at]hotmail.com writes: - quote - > I received a corrected 2005 1099-DIV for dividends paid to
ETF's *are* mutual funds. Or more precisely, they are> my account on 1/7/2006. I already filed my return. I read > the IRS documentation, and it says that mutual fund > dividends paid up to 1/31 to shareholders of record as of > the prior year are taxable in the prior year. However, my > dividends are for an EFT which obviuously is not a mutual > fund and is bought like a stock. "regulated investment companies" (RICs), as are "normal" mutual funds. - quote - > Is it treated like a stock or a mutual fund for this purpose?
It's treated as a RIC for all purposes, actually.So you need to amend your return. -- Rich Carreiro rlcarr[at]animato.arlington.ma.us << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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03-02-2006, 05:54 AM
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| Re: Dividends paid in January for 2005 <michaeljc70[at]hotmail.com> wrote: - quote - > I received a corrected 2005 1099-DIV for dividends paid to
While EFTs are bought and sold like stocks, they are> my account on 1/7/2006. I already filed my return. I read > the IRS documentation, and it says that mutual fund > dividends paid up to 1/31 to shareholders of record as of > the prior year are taxable in the prior year. However, my > dividends are for an EFT which obviuously is not a mutual > fund and is bought like a stock. Is it treated like a stock > or a mutual fund for this purpose? structured as mutual funds. You *did* read the prospectus before investing, didn't you? <g Ira Smilovitz << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
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#-1
03-01-2006, 07:56 AM
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| Dividends paid in January for 2005 I received a corrected 2005 1099-DIV for dividends paid to my account on 1/7/2006. I already filed my return. I read the IRS documentation, and it says that mutual fund dividends paid up to 1/31 to shareholders of record as of the prior year are taxable in the prior year. However, my dividends are for an EFT which obviuously is not a mutual fund and is bought like a stock. Is it treated like a stock or a mutual fund for this purpose? << ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== > |
| Tags |
| 2005, dividends, january, paid |
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