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Filing Amended Tax Return

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Filing Amended Tax Return

Filing amended tax return 8. Filing amended tax return   Dividends and Other Distributions Table of Contents Reminder Introduction Useful Items - You may want to see: General InformationDividends not reported on Form 1099-DIV. Filing amended tax return Reporting tax withheld. Filing amended tax return Nominees. Filing amended tax return Ordinary DividendsQualified Dividends Dividends Used to Buy More Stock Money Market Funds Capital Gain DistributionsBasis adjustment. Filing amended tax return Nondividend DistributionsLiquidating Distributions Distributions of Stock and Stock Rights Other DistributionsInformation reporting requirement. Filing amended tax return Alternative minimum tax treatment. Filing amended tax return How To Report Dividend IncomeInvestment interest deducted. Filing amended tax return Reminder Foreign-source income. Filing amended tax return  If you are a U. Filing amended tax return S. Filing amended tax return citizen with dividend income from sources outside the United States (foreign-source income), you must report that income on your tax return unless it is exempt by U. Filing amended tax return S. Filing amended tax return law. Filing amended tax return This is true whether you reside inside or outside the United States and whether or not you receive a Form 1099 from the foreign payer. Filing amended tax return Introduction This chapter discusses the tax treatment of: Ordinary dividends, Capital gain distributions, Nondividend distributions, and Other distributions you may receive from a corporation or a mutual fund. Filing amended tax return This chapter also explains how to report dividend income on your tax return. Filing amended tax return Dividends are distributions of money, stock, or other property paid to you by a corporation or by a mutual fund. Filing amended tax return You also may receive dividends through a partnership, an estate, a trust, or an association that is taxed as a corporation. Filing amended tax return However, some amounts you receive that are called dividends are actually interest income. Filing amended tax return (See Dividends that are actually interest under Taxable Interest in chapter 7. Filing amended tax return ) Most distributions are paid in cash (or check). Filing amended tax return However, distributions can consist of more stock, stock rights, other property, or services. Filing amended tax return Useful Items - You may want to see: Publication 514 Foreign Tax Credit for Individuals 550 Investment Income and Expenses Form (and Instructions) Schedule B (Form 1040A or 1040) Interest and Ordinary Dividends General Information This section discusses general rules for dividend income. Filing amended tax return Tax on unearned income of certain children. Filing amended tax return   Part of a child's 2013 unearned income may be taxed at the parent's tax rate. Filing amended tax return If it is, Form 8615, Tax for Certain Children Who Have Unearned Income, must be completed and attached to the child's tax return. Filing amended tax return If not, Form 8615 is not required and the child's income is taxed at his or her own tax rate. Filing amended tax return    Some parents can choose to include the child's interest and dividends on the parent's return if certain requirements are met. Filing amended tax return Use Form 8814, Parents' Election To Report Child's Interest and Dividends, for this purpose. Filing amended tax return   For more information about the tax on unearned income of children and the parents' election, see chapter 31. Filing amended tax return Beneficiary of an estate or trust. Filing amended tax return    Dividends and other distributions you receive as a beneficiary of an estate or trust are generally taxable income. Filing amended tax return You should receive a Schedule K-1 (Form 1041), Beneficiary's Share of Income, Deductions, Credits, etc. Filing amended tax return , from the fiduciary. Filing amended tax return Your copy of Schedule K-1 (Form 1041) and its instructions will tell you where to report the income on your Form 1040. Filing amended tax return Social security number (SSN) or individual taxpayer identification number (ITIN). Filing amended tax return    You must give your SSN or ITIN to any person required by federal tax law to make a return, statement, or other document that relates to you. Filing amended tax return This includes payers of dividends. Filing amended tax return If you do not give your SSN or ITIN to the payer of dividends, you may have to pay a penalty. Filing amended tax return For more information on SSNs and ITINs, see Social Security Number (SSN) in chapter 1. Filing amended tax return Backup withholding. Filing amended tax return   Your dividend income is generally not subject to regular withholding. Filing amended tax return However, it may be subject to backup withholding to ensure that income tax is collected on the income. Filing amended tax return Under backup withholding, the payer of dividends must withhold, as income tax, on the amount you are paid, applying the appropriate withholding rate. Filing amended tax return   Backup withholding may also be required if the IRS has determined that you underreported your interest or dividend income. Filing amended tax return For more information, see Backup Withholding in chapter 4. Filing amended tax return Stock certificate in two or more names. Filing amended tax return   If two or more persons hold stock as joint tenants, tenants by the entirety, or tenants in common, each person's share of any dividends from the stock is determined by local law. Filing amended tax return Form 1099-DIV. Filing amended tax return   Most corporations and mutual funds use Form 1099-DIV, Dividends and Distributions, to show you the distributions you received from them during the year. Filing amended tax return Keep this form with your records. Filing amended tax return You do not have to attach it to your tax return. Filing amended tax return Dividends not reported on Form 1099-DIV. Filing amended tax return   Even if you do not receive Form 1099-DIV, you must still report all your taxable dividend income. Filing amended tax return For example, you may receive distributive shares of dividends from partnerships or S corporations. Filing amended tax return These dividends are reported to you on Schedule K-1 (Form 1065), Partner's Share of Income, Deductions, Credits, etc. Filing amended tax return , and Schedule K-1 (Form 1120S), Shareholder's Share of Income, Deductions, Credits, etc. Filing amended tax return Reporting tax withheld. Filing amended tax return   If tax is withheld from your dividend income, the payer must give you a Form 1099-DIV that indicates the amount withheld. Filing amended tax return Nominees. Filing amended tax return   If someone receives distributions as a nominee for you, that person should give you a Form 1099-DIV, which will show distributions received on your behalf. Filing amended tax return Form 1099-MISC. Filing amended tax return   Certain substitute payments in lieu of dividends or tax-exempt interest received by a broker on your behalf must be reported to you on Form 1099-MISC, Miscellaneous Income, or a similar statement. Filing amended tax return See Reporting Substitute Payments under Short Sales in chapter 4 of Publication 550 for more information about reporting these payments. Filing amended tax return Incorrect amount shown on a Form 1099. Filing amended tax return   If you receive a Form 1099 that shows an incorrect amount (or other incorrect information), you should ask the issuer for a corrected form. Filing amended tax return The new Form 1099 you receive will be marked “Corrected. Filing amended tax return ” Dividends on stock sold. Filing amended tax return   If stock is sold, exchanged, or otherwise disposed of after a dividend is declared but before it is paid, the owner of record (usually the payee shown on the dividend check) must include the dividend in income. Filing amended tax return Dividends received in January. Filing amended tax return   If a mutual fund (or other regulated investment company) or real estate investment trust (REIT) declares a dividend (including any exempt-interest dividend or capital gain distribution) in October, November, or December, payable to shareholders of record on a date in one of those months but actually pays the dividend during January of the next calendar year, you are considered to have received the dividend on December 31. Filing amended tax return You report the dividend in the year it was declared. Filing amended tax return Ordinary Dividends Ordinary (taxable) dividends are the most common type of distribution from a corporation or a mutual fund. Filing amended tax return They are paid out of earnings and profits and are ordinary income to you. Filing amended tax return This means they are not capital gains. Filing amended tax return You can assume that any dividend you receive on common or preferred stock is an ordinary dividend unless the paying corporation or mutual fund tells you otherwise. Filing amended tax return Ordinary dividends will be shown in box 1a of the Form 1099-DIV you receive. Filing amended tax return Qualified Dividends Qualified dividends are the ordinary dividends subject to the same 0%, 15%, or 20% maximum tax rate that applies to net capital gain. Filing amended tax return They should be shown in box 1b of the Form 1099-DIV you receive. Filing amended tax return The maximum rate of tax on qualified dividends is: 0% on any amount that otherwise would be taxed at a 10% or 15% rate. Filing amended tax return 15% on any amount that otherwise would be taxed at rates greater than 15% but less than 39. Filing amended tax return 6%. Filing amended tax return 20% on any amount that otherwise would be taxed at a 39. Filing amended tax return 6% rate. Filing amended tax return To qualify for the maximum rate, all of the following requirements must be met. Filing amended tax return The dividends must have been paid by a U. Filing amended tax return S. Filing amended tax return corporation or a qualified foreign corporation. Filing amended tax return (See Qualified foreign corporation , later. Filing amended tax return ) The dividends are not of the type listed later under Dividends that are not qualified dividends . Filing amended tax return You meet the holding period (discussed next). Filing amended tax return Holding period. Filing amended tax return   You must have held the stock for more than 60 days during the 121-day period that begins 60 days before the ex-dividend date. Filing amended tax return The ex-dividend date is the first date following the declaration of a dividend on which the buyer of a stock is not entitled to receive the next dividend payment. Filing amended tax return Instead, the seller will get the dividend. Filing amended tax return   When counting the number of days you held the stock, include the day you disposed of the stock, but not the day you acquired it. Filing amended tax return See the examples later. Filing amended tax return Exception for preferred stock. Filing amended tax return   In the case of preferred stock, you must have held the stock more than 90 days during the 181-day period that begins 90 days before the ex-dividend date if the dividends are due to periods totaling more than 366 days. Filing amended tax return If the preferred dividends are due to periods totaling less than 367 days, the holding period in the previous paragraph applies. Filing amended tax return Example 1. Filing amended tax return You bought 5,000 shares of XYZ Corp. Filing amended tax return common stock on July 9, 2013. Filing amended tax return XYZ Corp. Filing amended tax return paid a cash dividend of 10 cents per share. Filing amended tax return The ex-dividend date was July 16, 2013. Filing amended tax return Your Form 1099-DIV from XYZ Corp. Filing amended tax return shows $500 in box 1a (ordinary dividends) and in box 1b (qualified dividends). Filing amended tax return However, you sold the 5,000 shares on August 12, 2013. Filing amended tax return You held your shares of XYZ Corp. Filing amended tax return for only 34 days of the 121-day period (from July 10, 2013, through August 12, 2013). Filing amended tax return The 121-day period began on May 17, 2013 (60 days before the ex-dividend date), and ended on September 14, 2013. Filing amended tax return You have no qualified dividends from XYZ Corp. Filing amended tax return because you held the XYZ stock for less than 61 days. Filing amended tax return Example 2. Filing amended tax return Assume the same facts as in Example 1 except that you bought the stock on July 15, 2013 (the day before the ex-dividend date), and you sold the stock on September 16, 2013. Filing amended tax return You held the stock for 63 days (from July 16, 2013, through September 16, 2013). Filing amended tax return The $500 of qualified dividends shown in box 1b of your Form 1099-DIV are all qualified dividends because you held the stock for 61 days of the 121-day period (from July 16, 2013, through September 14, 2013). Filing amended tax return Example 3. Filing amended tax return You bought 10,000 shares of ABC Mutual Fund common stock on July 9, 2013. Filing amended tax return ABC Mutual Fund paid a cash dividend of 10 cents a share. Filing amended tax return The ex-dividend date was July 16, 2013. Filing amended tax return The ABC Mutual Fund advises you that the portion of the dividend eligible to be treated as qualified dividends equals 2 cents per share. Filing amended tax return Your Form 1099-DIV from ABC Mutual Fund shows total ordinary dividends of $1,000 and qualified dividends of $200. Filing amended tax return However, you sold the 10,000 shares on August 12, 2013. Filing amended tax return You have no qualified dividends from ABC Mutual Fund because you held the ABC Mutual Fund stock for less than 61 days. Filing amended tax return Holding period reduced where risk of loss is diminished. Filing amended tax return   When determining whether you met the minimum holding period discussed earlier, you cannot count any day during which you meet any of the following conditions. Filing amended tax return You had an option to sell, were under a contractual obligation to sell, or had made (and not closed) a short sale of substantially identical stock or securities. Filing amended tax return You were grantor (writer) of an option to buy substantially identical stock or securities. Filing amended tax return Your risk of loss is diminished by holding one or more other positions in substantially similar or related property. Filing amended tax return   For information about how to apply condition (3), see Regulations section 1. Filing amended tax return 246-5. Filing amended tax return Qualified foreign corporation. Filing amended tax return   A foreign corporation is a qualified foreign corporation if it meets any of the following conditions. Filing amended tax return The corporation is incorporated in a U. Filing amended tax return S. Filing amended tax return possession. Filing amended tax return The corporation is eligible for the benefits of a comprehensive income tax treaty with the United States that the Treasury Department determines is satisfactory for this purpose and that includes an exchange of information program. Filing amended tax return For a list of those treaties, see Table 8-1. Filing amended tax return The corporation does not meet (1) or (2) above, but the stock for which the dividend is paid is readily tradable on an established securities market in the United States. Filing amended tax return See Readily tradable stock , later. Filing amended tax return Exception. Filing amended tax return   A corporation is not a qualified foreign corporation if it is a passive foreign investment company during its tax year in which the dividends are paid or during its previous tax year. Filing amended tax return Readily tradable stock. Filing amended tax return   Any stock (such as common, ordinary, or preferred) or an American depositary receipt in respect of that stock is considered to satisfy requirement (3) under Qualified foreign corporation , if it is listed on a national securities exchange that is registered under section 6 of the Securities Exchange Act of 1934 or on the Nasdaq Stock Market. Filing amended tax return For a list of the exchanges that meet these requirements, see www. Filing amended tax return sec. Filing amended tax return gov/divisions/marketreg/mrexchanges. Filing amended tax return shtml. Filing amended tax return Dividends that are not qualified dividends. Filing amended tax return   The following dividends are not qualified dividends. Filing amended tax return They are not qualified dividends even if they are shown in box 1b of Form 1099-DIV. Filing amended tax return Capital gain distributions. Filing amended tax return Dividends paid on deposits with mutual savings banks, cooperative banks, credit unions, U. Filing amended tax return S. Filing amended tax return building and loan associations, U. Filing amended tax return S. Filing amended tax return savings and loan associations, federal savings and loan associations, and similar financial institutions. Filing amended tax return (Report these amounts as interest income. Filing amended tax return ) Dividends from a corporation that is a tax-exempt organization or farmer's cooperative during the corporation's tax year in which the dividends were paid or during the corporation's previous tax year. Filing amended tax return Dividends paid by a corporation on employer securities held on the date of record by an employee stock ownership plan (ESOP) maintained by that corporation. Filing amended tax return Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. Filing amended tax return Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. Filing amended tax return Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. Filing amended tax return Table 8-1. Filing amended tax return Income Tax Treaties Income tax treaties the United States has with the following countries satisfy requirement (2) under Qualified foreign corporation. Filing amended tax return Australia Indonesia Romania Austria Ireland Russian Bangladesh Israel Federation Barbados Italy Slovak Belgium Jamaica Republic Bulgaria Japan Slovenia Canada Kazakhstan South Africa China Korea Spain Cyprus Latvia Sri Lanka Czech Lithuania Sweden Republic Luxembourg Switzerland Denmark Malta Thailand Egypt Mexico Trinidad and Estonia Morocco Tobago Finland Netherlands Tunisia France New Zealand Turkey Germany Norway Ukraine Greece Pakistan United Hungary Philippines Kingdom Iceland Poland Venezuela India Portugal     Dividends Used to Buy More Stock The corporation in which you own stock may have a dividend reinvestment plan. Filing amended tax return This plan lets you choose to use your dividends to buy (through an agent) more shares of stock in the corporation instead of receiving the dividends in cash. Filing amended tax return Most mutual funds also permit shareholders to automatically reinvest distributions in more shares in the fund, instead of receiving cash. Filing amended tax return If you use your dividends to buy more stock at a price equal to its fair market value, you still must report the dividends as income. Filing amended tax return If you are a member of a dividend reinvestment plan that lets you buy more stock at a price less than its fair market value, you must report as dividend income the fair market value of the additional stock on the dividend payment date. Filing amended tax return You also must report as dividend income any service charge subtracted from your cash dividends before the dividends are used to buy the additional stock. Filing amended tax return But you may be able to deduct the service charge. Filing amended tax return See chapter 28 for more information about deducting expenses of producing income. Filing amended tax return In some dividend reinvestment plans, you can invest more cash to buy shares of stock at a price less than fair market value. Filing amended tax return If you choose to do this, you must report as dividend income the difference between the cash you invest and the fair market value of the stock you buy. Filing amended tax return When figuring this amount, use the fair market value of the stock on the dividend payment date. Filing amended tax return Money Market Funds Report amounts you receive from money market funds as dividend income. Filing amended tax return Money market funds are a type of mutual fund and should not be confused with bank money market accounts that pay interest. Filing amended tax return Capital Gain Distributions Capital gain distributions (also called capital gain dividends) are paid to you or credited to your account by mutual funds (or other regulated investment companies) and real estate investment trusts (REITs). Filing amended tax return They will be shown in box 2a of the Form 1099-DIV you receive from the mutual fund or REIT. Filing amended tax return Report capital gain distributions as long-term capital gains, regardless of how long you owned your shares in the mutual fund or REIT. Filing amended tax return Undistributed capital gains of mutual funds and REITs. Filing amended tax return    Some mutual funds and REITs keep their long-term capital gains and pay tax on them. Filing amended tax return You must treat your share of these gains as distributions, even though you did not actually receive them. Filing amended tax return However, they are not included on Form 1099-DIV. Filing amended tax return Instead, they are reported to you in box 1a of Form 2439. Filing amended tax return   Report undistributed capital gains (box 1a of Form 2439) as long-term capital gains on Schedule D (Form 1040), column (h), line 11. Filing amended tax return   The tax paid on these gains by the mutual fund or REIT is shown in box 2 of Form 2439. Filing amended tax return You take credit for this tax by including it on Form 1040, line 71, and checking box a on that line. Filing amended tax return Attach Copy B of Form 2439 to your return, and keep Copy C for your records. Filing amended tax return Basis adjustment. Filing amended tax return   Increase your basis in your mutual fund, or your interest in a REIT, by the difference between the gain you report and the credit you claim for the tax paid. Filing amended tax return Additional information. Filing amended tax return   For more information on the treatment of distributions from mutual funds, see Publication 550. Filing amended tax return Nondividend Distributions A nondividend distribution is a distribution that is not paid out of the earnings and profits of a corporation or a mutual fund. Filing amended tax return You should receive a Form 1099-DIV or other statement showing the nondividend distribution. Filing amended tax return On Form 1099-DIV, a nondividend distribution will be shown in box 3. Filing amended tax return If you do not receive such a statement, you report the distribution as an ordinary dividend. Filing amended tax return Basis adjustment. Filing amended tax return   A nondividend distribution reduces the basis of your stock. Filing amended tax return It is not taxed until your basis in the stock is fully recovered. Filing amended tax return This nontaxable portion is also called a return of capital; it is a return of your investment in the stock of the company. Filing amended tax return If you buy stock in a corporation in different lots at different times, and you cannot definitely identify the shares subject to the nondividend distribution, reduce the basis of your earliest purchases first. Filing amended tax return   When the basis of your stock has been reduced to zero, report any additional nondividend distribution you receive as a capital gain. Filing amended tax return Whether you report it as a long-term or short-term capital gain depends on how long you have held the stock. Filing amended tax return See Holding Period in chapter 14. Filing amended tax return Example. Filing amended tax return You bought stock in 2000 for $100. Filing amended tax return In 2003, you received a nondividend distribution of $80. Filing amended tax return You did not include this amount in your income, but you reduced the basis of your stock to $20. Filing amended tax return You received a nondividend distribution of $30 in 2013. Filing amended tax return The first $20 of this amount reduced your basis to zero. Filing amended tax return You report the other $10 as a long-term capital gain for 2013. Filing amended tax return You must report as a long-term capital gain any nondividend distribution you receive on this stock in later years. Filing amended tax return Liquidating Distributions Liquidating distributions, sometimes called liquidating dividends, are distributions you receive during a partial or complete liquidation of a corporation. Filing amended tax return These distributions are, at least in part, one form of a return of capital. Filing amended tax return They may be paid in one or more installments. Filing amended tax return You will receive Form 1099-DIV from the corporation showing you the amount of the liquidating distribution in box 8 or 9. Filing amended tax return For more information on liquidating distributions, see chapter 1 of Publication 550. Filing amended tax return Distributions of Stock and Stock Rights Distributions by a corporation of its own stock are commonly known as stock dividends. Filing amended tax return Stock rights (also known as “stock options”) are distributions by a corporation of rights to acquire the corporation's stock. Filing amended tax return Generally, stock dividends and stock rights are not taxable to you, and you do not report them on your return. Filing amended tax return Taxable stock dividends and stock rights. Filing amended tax return   Distributions of stock dividends and stock rights are taxable to you if any of the following apply. Filing amended tax return You or any other shareholder have the choice to receive cash or other property instead of stock or stock rights. Filing amended tax return The distribution gives cash or other property to some shareholders and an increase in the percentage interest in the corporation's assets or earnings and profits to other shareholders. Filing amended tax return The distribution is in convertible preferred stock and has the same result as in (2). Filing amended tax return The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders. Filing amended tax return The distribution is on preferred stock. Filing amended tax return (The distribution, however, is not taxable if it is an increase in the conversion ratio of convertible preferred stock made solely to take into account a stock dividend, stock split, or similar event that would otherwise result in reducing the conversion right. Filing amended tax return )   The term “stock” includes rights to acquire stock, and the term “shareholder” includes a holder of rights or of convertible securities. Filing amended tax return If you receive taxable stock dividends or stock rights, include their fair market value at the time of distribution in your income. Filing amended tax return Preferred stock redeemable at a premium. Filing amended tax return   If you hold preferred stock having a redemption price higher than its issue price, the difference (the redemption premium) generally is taxable as a constructive distribution of additional stock on the preferred stock. Filing amended tax return For more information, see chapter 1 of Publication 550. Filing amended tax return Basis. Filing amended tax return   Your basis in stock or stock rights received in a taxable distribution is their fair market value when distributed. Filing amended tax return If you receive stock or stock rights that are not taxable to you, see Stocks and Bonds under Basis of Investment Property in chapter 4 of Publication 550 for information on how to figure their basis. Filing amended tax return Fractional shares. Filing amended tax return    You may not own enough stock in a corporation to receive a full share of stock if the corporation declares a stock dividend. Filing amended tax return However, with the approval of the shareholders, the corporation may set up a plan in which fractional shares are not issued but instead are sold, and the cash proceeds are given to the shareholders. Filing amended tax return Any cash you receive for fractional shares under such a plan is treated as an amount realized on the sale of the fractional shares. Filing amended tax return Report this transaction on Form 8949, Sales and Other Dispositions of Capital Assets. Filing amended tax return Enter your gain or loss, the difference between the cash you receive and the basis of the fractional shares sold, in column (h) of Schedule D (Form 1040) in Part I or Part II, whichever is appropriate. Filing amended tax return    Report these transactions on Form 8949 with the correct box checked. Filing amended tax return   For more information on Form 8949 and Schedule D (Form 1040), see chapter 4 of Publication 550. Filing amended tax return Also see the Instructions for Form 8949 and the Instructions for Schedule D (Form 1040). Filing amended tax return Example. Filing amended tax return You own one share of common stock that you bought on January 3, 2004, for $100. Filing amended tax return The corporation declared a common stock dividend of 5% on June 29, 2013. Filing amended tax return The fair market value of the stock at the time the stock dividend was declared was $200. Filing amended tax return You were paid $10 for the fractional-share stock dividend under a plan described in the discussion above. Filing amended tax return You figure your gain or loss as follows: Fair market value of old stock $200. Filing amended tax return 00 Fair market value of stock dividend (cash received) +10. Filing amended tax return 00 Fair market value of old stock and stock dividend $210. Filing amended tax return 00 Basis (cost) of old stock after the stock dividend (($200 ÷ $210) × $100) $95. Filing amended tax return 24 Basis (cost) of stock dividend (($10 ÷ $210) × $100) + 4. Filing amended tax return 76 Total $100. Filing amended tax return 00 Cash received $10. Filing amended tax return 00 Basis (cost) of stock dividend − 4. Filing amended tax return 76 Gain $5. Filing amended tax return 24 Because you had held the share of stock for more than 1 year at the time the stock dividend was declared, your gain on the stock dividend is a long-term capital gain. Filing amended tax return Scrip dividends. Filing amended tax return   A corporation that declares a stock dividend may issue you a scrip certificate that entitles you to a fractional share. Filing amended tax return The certificate is generally nontaxable when you receive it. Filing amended tax return If you choose to have the corporation sell the certificate for you and give you the proceeds, your gain or loss is the difference between the proceeds and the portion of your basis in the corporation's stock allocated to the certificate. Filing amended tax return   However, if you receive a scrip certificate that you can choose to redeem for cash instead of stock, the certificate is taxable when you receive it. Filing amended tax return You must include its fair market value in income on the date you receive it. Filing amended tax return Other Distributions You may receive any of the following distributions during the year. Filing amended tax return Exempt-interest dividends. Filing amended tax return   Exempt-interest dividends you receive from a mutual fund or other regulated investment company, including those received from a qualified fund of funds in any tax year beginning after December 22, 2010, are not included in your taxable income. Filing amended tax return Exempt-interest dividends should be shown in box 10 of Form 1099-DIV. Filing amended tax return Information reporting requirement. Filing amended tax return   Although exempt-interest dividends are not taxable, you must show them on your tax return if you have to file a return. Filing amended tax return This is an information reporting requirement and does not change the exempt-interest dividends to taxable income. Filing amended tax return Alternative minimum tax treatment. Filing amended tax return   Exempt-interest dividends paid from specified private activity bonds may be subject to the alternative minimum tax. Filing amended tax return See Alternative Minimum Tax (AMT) in chapter 30 for more information. Filing amended tax return Dividends on insurance policies. Filing amended tax return    Insurance policy dividends the insurer keeps and uses to pay your premiums are not taxable. Filing amended tax return However, you must report as taxable interest income the interest that is paid or credited on dividends left with the insurance company. Filing amended tax return    If dividends on an insurance contract (other than a modified endowment contract) are distributed to you, they are a partial return of the premiums you paid. Filing amended tax return Do not include them in your gross income until they are more than the total of all net premiums you paid for the contract. Filing amended tax return Report any taxable distributions on insurance policies on Form 1040, line 21. Filing amended tax return Dividends on veterans' insurance. Filing amended tax return   Dividends you receive on veterans' insurance policies are not taxable. Filing amended tax return In addition, interest on dividends left with the Department of Veterans Affairs is not taxable. Filing amended tax return Patronage dividends. Filing amended tax return   Generally, patronage dividends you receive in money from a cooperative organization are included in your income. Filing amended tax return   Do not include in your income patronage dividends you receive on: Property bought for your personal use, or Capital assets or depreciable property bought for use in your business. Filing amended tax return But you must reduce the basis (cost) of the items bought. Filing amended tax return If the dividend is more than the adjusted basis of the assets, you must report the excess as income. Filing amended tax return   These rules are the same whether the cooperative paying the dividend is a taxable or tax-exempt cooperative. Filing amended tax return Alaska Permanent Fund dividends. Filing amended tax return    Do not report these amounts as dividends. Filing amended tax return Instead, report these amounts on Form 1040, line 21; Form 1040A, line 13; or Form 1040EZ, line 3. Filing amended tax return How To Report Dividend Income Generally, you can use either Form 1040 or Form 1040A to report your dividend income. Filing amended tax return Report the total of your ordinary dividends on line 9a of Form 1040 or Form 1040A. Filing amended tax return Report qualified dividends on line 9b of Form 1040 or Form 1040A. Filing amended tax return If you receive capital gain distributions, you may be able to use Form 1040A or you may have to use Form 1040. Filing amended tax return See Exceptions to filing Form 8949 and Schedule D (Form 1040) in chapter 16. Filing amended tax return If you receive nondividend distributions required to be reported as capital gains, you must use Form 1040. Filing amended tax return You cannot use Form 1040EZ if you receive any dividend income. Filing amended tax return Form 1099-DIV. Filing amended tax return   If you owned stock on which you received $10 or more in dividends and other distributions, you should receive a Form 1099-DIV. Filing amended tax return Even if you do not receive Form 1099-DIV, you must report all your dividend income. Filing amended tax return   See Form 1099-DIV for more information on how to report dividend income. Filing amended tax return Form 1040A or 1040. Filing amended tax return    You must complete Schedule B (Form 1040A or 1040), Part II, and attach it to your Form 1040A or 1040, if: Your ordinary dividends (Form 1099-DIV, box 1a) are more than $1,500, or You received, as a nominee, dividends that actually belong to someone else. Filing amended tax return If your ordinary dividends are more than $1,500, you must also complete Schedule B (Form 1040A or 1040), Part III. Filing amended tax return   List on Schedule B (Form 1040A or 1040), Part II, line 5, each payer's name and the ordinary dividends you received. Filing amended tax return If your securities are held by a brokerage firm (in “street name”), list the name of the brokerage firm shown on Form 1099-DIV as the payer. Filing amended tax return If your stock is held by a nominee who is the owner of record, and the nominee credited or paid you dividends on the stock, show the name of the nominee and the dividends you received or for which you were credited. Filing amended tax return   Enter on line 6 the total of the amounts listed on line 5. Filing amended tax return Also enter this total on line 9a of Form 1040A or 1040. Filing amended tax return Qualified dividends. Filing amended tax return   Report qualified dividends (Form 1099-DIV, box 1b) on line 9b of Form 1040 or Form 1040A. Filing amended tax return The amount in box 1b is already included in box 1a. Filing amended tax return Do not add the amount in box 1b to, or substract it from, the amount in box 1a. Filing amended tax return   Do not include any of the following on line 9b. Filing amended tax return Qualified dividends you received as a nominee. Filing amended tax return See Nominees under How to Report Dividend Income in chapter 1 of Publication 550. Filing amended tax return Dividends on stock for which you did not meet the holding period. Filing amended tax return See Holding period , earlier under Qualified Dividends. Filing amended tax return Dividends on any share of stock to the extent you are obligated (whether under a short sale or otherwise) to make related payments for positions in substantially similar or related property. Filing amended tax return Payments in lieu of dividends, but only if you know or have reason to know the payments are not qualified dividends. Filing amended tax return Payments shown in Form 1099-DIV, box 1b, from a foreign corporation to the extent you know or have reason to know the payments are not qualified dividends. Filing amended tax return   If you have qualified dividends, you must figure your tax by completing the Qualified Dividends and Capital Gain Tax Worksheet in the Form 1040 or 1040A instructions or the Schedule D Tax Worksheet in the Schedule D (Form 1040) instructions, whichever applies. Filing amended tax return Enter qualified dividends on line 2 of the worksheet. Filing amended tax return Investment interest deducted. Filing amended tax return   If you claim a deduction for investment interest, you may have to reduce the amount of your qualified dividends that are eligible for the 0%, 15%, or 20% tax rate. Filing amended tax return Reduce it by the qualified dividends you choose to include in investment income when figuring the limit on your investment interest deduction. Filing amended tax return This is done on the Qualified Dividends and Capital Gain Tax Worksheet or the Schedule D Tax Worksheet. Filing amended tax return For more information about the limit on investment interest, see Investment expenses in chapter 23. Filing amended tax return Expenses related to dividend income. Filing amended tax return   You may be able to deduct expenses related to dividend income if you itemize your deductions on Schedule A (Form 1040). Filing amended tax return See chapter 28 for general information about deducting expenses of producing income. Filing amended tax return More information. Filing amended tax return    For more information about how to report dividend income, see chapter 1 of Publication 550 or the instructions for the form you must file. Filing amended tax return Prev  Up  Next   Home   More Online Publications
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Page Last Reviewed or Updated: 14-Mar-2014

The Filing Amended Tax Return

Filing amended tax return 6. Filing amended tax return   How To Get Tax Help Table of Contents Low Income Taxpayer Clinics Whether it's help with a tax issue, preparing your tax return or a need for a free publication or form, get the help you need the way you want it: online, use a smart phone, call or walk in to an IRS office or volunteer site near you. Filing amended tax return Free help with your tax return. Filing amended tax return   You can get free help preparing your return nationwide from IRS-certified volunteers. Filing amended tax return The Volunteer Income Tax Assistance (VITA) program helps low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers. Filing amended tax return The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Filing amended tax return Most VITA and TCE sites offer free electronic filing and all volunteers will let you know about credits and deductions you may be entitled to claim. Filing amended tax return In addition, some VITA and TCE sites provide taxpayers the opportunity to prepare their own return with help from an IRS-certified volunteer. Filing amended tax return To find the nearest VITA or TCE site, you can use the VITA Locator Tool on IRS. Filing amended tax return gov, download the IRS2Go app, or call 1-800-906-9887. Filing amended tax return   As part of the TCE program, AARP offers the Tax-Aide counseling program. Filing amended tax return To find the nearest AARP Tax-Aide site, visit AARP's website at www. Filing amended tax return aarp. Filing amended tax return org/money/taxaide or call 1-888-227-7669. Filing amended tax return For more information on these programs, go to IRS. Filing amended tax return gov and enter “VITA” in the search box. Filing amended tax return Internet. Filing amended tax return    IRS. Filing amended tax return gov and IRS2Go are ready when you are —24 hours a day, 7 days a week. Filing amended tax return Download the free IRS2Go app from the iTunes app store or from Google Play. Filing amended tax return Use it to check your refund status, order transcripts of your tax returns or tax account, watch the IRS YouTube channel, get IRS news as soon as it's released to the public, subscribe to filing season updates or daily tax tips, and follow the IRS Twitter news feed, @IRSnews, to get the latest federal tax news, including information about tax law changes and important IRS programs. Filing amended tax return Check the status of your 2013 refund with the Where's My Refund? application on IRS. Filing amended tax return gov or download the IRS2Go app and select the Refund Status option. Filing amended tax return The IRS issues more than 9 out of 10 refunds in less than 21 days. Filing amended tax return Using these applications, you can start checking on the status of your return within 24 hours after we receive your e-filed return or 4 weeks after you mail a paper return. Filing amended tax return You will also be given a personalized refund date as soon as the IRS processes your tax return and approves your refund. Filing amended tax return The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Filing amended tax return Use the Interactive Tax Assistant (ITA) to research your tax questions. Filing amended tax return No need to wait on the phone or stand in line. Filing amended tax return The ITA is available 24 hours a day, 7 days a week, and provides you with a variety of tax information related to general filing topics, deductions, credits, and income. Filing amended tax return When you reach the response screen, you can print the entire interview and the final response for your records. Filing amended tax return New subject areas are added on a regular basis. Filing amended tax return  Answers not provided through ITA may be found in Tax Trails, one of the Tax Topics on IRS. Filing amended tax return gov which contain general individual and business tax information or by searching the IRS Tax Map, which includes an international subject index. Filing amended tax return You can use the IRS Tax Map, to search publications and instructions by topic or keyword. Filing amended tax return The IRS Tax Map integrates forms and publications into one research tool and provides single-point access to tax law information by subject. Filing amended tax return When the user searches the IRS Tax Map, they will be provided with links to related content in existing IRS publications, forms and instructions, questions and answers, and Tax Topics. Filing amended tax return Coming this filing season, you can immediately view and print for free all 5 types of individual federal tax transcripts (tax returns, tax account, record of account, wage and income statement, and certification of non-filing) using Get Transcript. Filing amended tax return You can also ask the IRS to mail a return or an account transcript to you. Filing amended tax return Only the mail option is available by choosing the Tax Records option on the IRS2Go app by selecting Mail Transcript on IRS. Filing amended tax return gov or by calling 1-800-908-9946. Filing amended tax return Tax return and tax account transcripts are generally available for the current year and the past three years. Filing amended tax return Determine if you are eligible for the EITC and estimate the amount of the credit with the Earned Income Tax Credit (EITC) Assistant. Filing amended tax return Visit Understanding Your IRS Notice or Letter to get answers to questions about a notice or letter you received from the IRS. Filing amended tax return If you received the First Time Homebuyer Credit, you can use the First Time Homebuyer Credit Account Look-up tool for information on your repayments and account balance. Filing amended tax return Check the status of your amended return using Where's My Amended Return? Go to IRS. Filing amended tax return gov and enter Where's My Amended Return? in the search box. Filing amended tax return You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Filing amended tax return It can take up to 3 weeks from the date you mailed it to show up in our system. Filing amended tax return Make a payment using one of several safe and convenient electronic payment options available on IRS. Filing amended tax return gov. Filing amended tax return Select the Payment tab on the front page of IRS. Filing amended tax return gov for more information. Filing amended tax return Determine if you are eligible and apply for an online payment agreement, if you owe more tax than you can pay today. Filing amended tax return Figure your income tax withholding with the IRS Withholding Calculator on IRS. Filing amended tax return gov. Filing amended tax return Use it if you've had too much or too little withheld, your personal situation has changed, you're starting a new job or you just want to see if you're having the right amount withheld. Filing amended tax return Determine if you might be subject to the Alternative Minimum Tax by using the Alternative Minimum Tax Assistant on IRS. Filing amended tax return gov. Filing amended tax return Request an Electronic Filing PIN by going to IRS. Filing amended tax return gov and entering Electronic Filing PIN in the search box. Filing amended tax return Download forms, instructions and publications, including accessible versions for people with disabilities. Filing amended tax return Locate the nearest Taxpayer Assistance Center (TAC) using the Office Locator tool on IRS. Filing amended tax return gov, or choose the Contact Us option on the IRS2Go app and search Local Offices. Filing amended tax return An employee can answer questions about your tax account or help you set up a payment plan. Filing amended tax return Before you visit, check the Office Locator on IRS. Filing amended tax return gov, or Local Offices under Contact Us on IRS2Go to confirm the address, phone number, days and hours of operation, and the services provided. Filing amended tax return If you have a special need, such as a disability, you can request an appointment. Filing amended tax return Call the local number listed in the Office Locator, or look in the phone book under United States Government, Internal Revenue Service. Filing amended tax return Apply for an Employer Identification Number (EIN). Filing amended tax return Go to IRS. Filing amended tax return gov and enter Apply for an EIN in the search box. Filing amended tax return Read the Internal Revenue Code, regulations, or other official guidance. Filing amended tax return Read Internal Revenue Bulletins. Filing amended tax return Sign up to receive local and national tax news and more by email. Filing amended tax return Just click on “subscriptions” above the search box on IRS. Filing amended tax return gov and choose from a variety of options. Filing amended tax return Phone. Filing amended tax return    You can call the IRS, or you can carry it in your pocket with the IRS2Go app on your smart phone or tablet. Filing amended tax return Download the free IRS2Go app from the iTunes app store or from Google Play. Filing amended tax return Call to locate the nearest volunteer help site, 1-800-906-9887 or you can use the VITA Locator Tool on IRS. Filing amended tax return gov, or download the IRS2Go app. Filing amended tax return Low-to-moderate income, elderly, people with disabilities, and limited English proficient taxpayers can get free help with their tax return from the nationwide Volunteer Income Tax Assistance (VITA) program. Filing amended tax return The Tax Counseling for the Elderly (TCE) program helps taxpayers age 60 and older with their tax returns. Filing amended tax return Most VITA and TCE sites offer free electronic filing. Filing amended tax return Some VITA and TCE sites provide IRS-certified volunteers who can help prepare your tax return. Filing amended tax return Through the TCE program, AARP offers the Tax-Aide counseling program; call 1-888-227-7669 to find the nearest Tax-Aide location. Filing amended tax return Call the automated Where's My Refund? information hotline to check the status of your 2013 refund 24 hours a day, 7 days a week at 1-800-829-1954. Filing amended tax return If you e-file, you can start checking on the status of your return within 24 hours after the IRS receives your tax return or 4 weeks after you've mailed a paper return. Filing amended tax return The IRS issues more than 9 out of 10 refunds in less than 21 days. Filing amended tax return Where's My Refund? will give you a personalized refund date as soon as the IRS processes your tax return and approves your refund. Filing amended tax return Before you call this automated hotline, have your 2013 tax return handy so you can enter your social security number, your filing status, and the exact whole dollar amount of your refund. Filing amended tax return The IRS updates Where's My Refund? every 24 hours, usually overnight, so you only need to check once a day. Filing amended tax return Note, the above information is for our automated hotline. Filing amended tax return Our live phone and walk-in assistors can research the status of your refund only if it's been 21 days or more since you filed electronically or more than 6 weeks since you mailed your paper return. Filing amended tax return Call the Amended Return Hotline, 1-866-464-2050, to check the status of your amended return. Filing amended tax return You can generally expect your amended return to be processed up to 12 weeks from the date we receive it. Filing amended tax return It can take up to 3 weeks from the date you mailed it to show up in our system. Filing amended tax return Call 1-800-TAX-FORM (1-800-829-3676) to order current-year forms, instructions, publications, and prior-year forms and instructions (limited to 5 years). Filing amended tax return You should receive your order within 10 business days. Filing amended tax return Call TeleTax, 1-800-829-4477, to listen to pre-recorded messages covering general and business tax information. Filing amended tax return If, between January and April 15, you still have questions about the Form 1040, 1040A, or 1040EZ (like filing requirements, dependents, credits, Schedule D, pensions and IRAs or self-employment taxes), call 1-800-829-1040. Filing amended tax return Call using TTY/TDD equipment, 1-800-829-4059 to ask tax questions or order forms and publications. Filing amended tax return The TTY/TDD telephone number is for people who are deaf, hard of hearing, or have a speech disability. Filing amended tax return These individuals can also contact the IRS through relay services such as the Federal Relay Service. Filing amended tax return Walk-in. Filing amended tax return   You can find a selection of forms, publications and services — in-person. Filing amended tax return Products. Filing amended tax return You can walk in to some post offices, libraries, and IRS offices to pick up certain forms, instructions, and publications. Filing amended tax return Some IRS offices, libraries, and city and county government offices have a collection of products available to photocopy from reproducible proofs. Filing amended tax return Services. Filing amended tax return You can walk in to your local TAC for face-to-face tax help. Filing amended tax return An employee can answer questions about your tax account or help you set up a payment plan. Filing amended tax return Before visiting, use the Office Locator tool on IRS. Filing amended tax return gov, or choose the Contact Us option on the IRS2Go app and search Local Offices for days and hours of operation, and services provided. Filing amended tax return Mail. Filing amended tax return   You can send your order for forms, instructions, and publications to the address below. Filing amended tax return You should receive a response within 10 business days after your request is received. Filing amended tax return Internal Revenue Service 1201 N. Filing amended tax return Mitsubishi Motorway Bloomington, IL 61705-6613    The Taxpayer Advocate Service Is Here to Help You. Filing amended tax return The Taxpayer Advocate Service (TAS) is your voice at the IRS. Filing amended tax return Our job is to ensure that every taxpayer is treated fairly and that you know and understand your rights. Filing amended tax return   What can TAS do for you? We can offer you free help with IRS problems that you can't resolve on your own. Filing amended tax return We know this process can be confusing, but the worst thing you can do is nothing at all! TAS can help if you can't resolve your tax problem and: Your problem is causing financial difficulties for you, your family, or your business. Filing amended tax return You face (or your business is facing) an immediate threat of adverse action. Filing amended tax return You've tried repeatedly to contact the IRS but no one has responded, or the IRS hasn't responded by the date promised. Filing amended tax return   If you qualify for our help, you'll be assigned to one advocate who'll be with you at every turn and will do everything possible to resolve your problem. Filing amended tax return Here's why we can help: TAS is an independent organization within the IRS. Filing amended tax return Our advocates know how to work with the IRS. Filing amended tax return Our services are free and tailored to meet your needs. Filing amended tax return We have offices in every state, the District of Columbia, and Puerto Rico. Filing amended tax return   How can you reach us? If you think TAS can help you, call your local advocate, whose number is in your local directory and at Taxpayer Advocate, or call us toll-free at 1-877-777-4778. Filing amended tax return   How else does TAS help taxpayers?  TAS also works to resolve large-scale, systemic problems that affect many taxpayers. Filing amended tax return If you know of one of these broad issues, please report it to us through our Systemic Advocacy Management System. Filing amended tax return Low Income Taxpayer Clinics Low Income Taxpayer Clinics (LITCs) serve individuals whose income is below a certain level and need to resolve tax problems such as audits, appeals and tax collection disputes. Filing amended tax return Some clinics can provide information about taxpayer rights and responsibilities in different languages for individuals who speak English as a second language. Filing amended tax return Visit Taxpayer Advocate or see IRS Publication 4134, Low Income Taxpayer Clinic List. Filing amended tax return Prev  Up  Next   Home   More Online Publications