Have a Tax Question? Ask a Tax Expert
Welcome and thank you for giving me the opportunity to assist you with your tax question.
You would be required to report the dividends on your tax return each year, and in the event you sold any of the funds, you would be required to report such a sale.
Would you mind giving me an idea of the approximate amount of dividends you received each year so I could determine if it would impact your tax return?
Thanks for the prompt reply. Actually my dividend always reinvested. I never receive or get cash. Dividend declared and re-invested as follows
2008 = 2000
2009 = 4000
2010 = 6000
2011 = 8000
2012 = 10000
2013 = 14000
Note: I never get cash all my dividends re-invest automatically.
Current total value around $ 50,0000. But in 2005 it was $ 10000
How much a tax professional charge me to file these amendments for last 8 years. Do I have to report dividend only or mutual fund price also?. I need answer in detail . Thanks
Fees that tax professionals charge vary, and I cannot recommend a specific person or company per Just Answer site rules. I would contact a major tax preparation company such as H&R Block, local CPAs and/or Enrolled Agents in your area and give them your information so they will be able to give you an idea of their fees.
You would report the dividend income received (reinvested).
I do not understand your poor service rating of my answer to you. Per site rules, I cannot give you specific information about the fees that a CPA or tax preparer will charge you to amend your tax returns as fees vary greatly from one individual or company to another.
Also, I informed you that you would need to report the dividend income on your tax return. For instance, you said that in 2008 you received $2000 in dividends. That amount would need to be reported on your 2008 tax return.
Please let me know if you require additional information or clarification, and I will be happy to assist you.