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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29558
Experience:  Taxes, Immigration, Labor Relations
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Sold Dividends, did not reinvest, where do I enter proceeds

Customer Question

Sold Dividends, did not reinvest, where do I enter proceeds received
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
Dividends are taxable regardless if reinvested or not...You must have form 1099div that reports dividend income 1a Total ordinary dividends -->> that amount is reported on form 1040 line 9a1b Qualified dividends -->> that amount is reported on form 1040 line 9aLet me know if you need any help with reporting.
Customer: replied 1 year ago.
I reported everything that was issue on the 1099-DIV & 1099B - Total Proceeds $33,950; Total Cost or Other Basis $33,383.
Total Gain - $567.00. I received check totaling $30,403.67, Is this considered income or securities which would be taxable?
Expert:  Lev replied 1 year ago.
Form 1099B doesn't report dividends - it reports the sale of shares.That transaction is reported on form 8949.(Total Proceeds $33,950) MINIS (Total Cost or Other Basis $33,383_ = $567.00. - that is your taxable gain - not the full amount.If you reported correctly - that amount should be on form 1040 line 13 - please verify.
Customer: replied 1 year ago.
thank you
Expert:  Lev replied 1 year ago.
Let me know if you need any help with reporting..I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you will all tax related issues.