In a liquidating distribution the cash proceeds are
Distributions paid by RICs and REITs are not considered qualified and will be reported only on Line 1a, as ordinary dividends. If the gross proceeds from fractional sales of securities or the cumulative amount of income or dividends received during the tax year do not exceed the IRA reporting thresholds, we do not include these amounts on the 1099 and they are not reported to the IRS.Line 2a: Total capital gain distributions Capital gain distributions are paid by mutual funds or other regulated investment companies (RICs) and Real Estate Investment Trusts (REITs). Since tax law is complex, contact an IRS representative or your tax advisor for guidance on your circumstances.Net gain or loss Shows net gain or loss on the short-term transactions for which cost basis is reported to the IRS and is the difference between Proceeds and Cost Basis including Market discount (subtract) and Wash sale adjustment (add). Since tax law is complex, contact an IRS representative or your tax advisor for guidance on your circumstances.
Line 3: Non-dividend distributions Non-dividend distributions are distributions that are not paid out of the earnings and profits of a corporation or mutual fund.
Tax Resources Tax questions for individuals: 1-800-829-1040 Tax questions for businesses: 1-800-829-4933 Other tax forms or publications: 1-800-829-3676 Pay taxes by credit card: 1-888-272-9829 For additional information and to print forms and publications:
If you have any other questions, feel free to reach out to our support team.
These are also referred to as a return of capital (ROC) and reduce the cost basis in the security. This section will list “various” if there is more than one applicable country.
It is not taxed until the basis in your security is recovered. This could be a result of a restriction on the account. Line 5: Investment expenses Investment expenses includes your share of expenses of non-publicly offered RICs. possession This is the name of the foreign country or U. Details for each transaction and all countries will be listed on the “Foreign Income and Taxes Summary” page.Total short-term Proceeds Shows total proceeds from short-term transactions for which cost basis is not reported to the IRS. Cost basis, Market discount and Wash sale adjustment may be shown in for informational purposes Long-Term Proceeds reported Shows total Proceeds from long-term transactions for which cost basis is reported to the IRS.