Community Chat

[Hooty]

Dividends are claimed as income, amount you earned on stock!

[Hooty]

Dividends are claimed as income, amount you earned on stock!

No you do not pay income tax on stock certificates.

[Pearlee]

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@Hooty wrote:

Dividends are claimed as income, amount you earned on stock!

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Hooty is right. I've paid taxes every year on the dividends that my stock earns.

[nomless]

I would recommend that persons with tax questions  take them to a tax professional, not a tv shopping channel forum.

[kismet]

nomless, i was taught if you can't say anything nice don't say anything at all. 

[proudlyfromNJ]

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@Pearlee wrote:

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@Hooty wrote:

Dividends are claimed as income, amount you earned on stock!

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Hooty is right. I've paid taxes every year on the dividends that my stock earns.

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Yes, so do we. Whichever stock you have should send you the information of money earned for your tax filings.

[shoppersince1989]

Receiving dividends, is like receiving money.   And it is reportable income.

Whether you receive it as a check, or it's reinvested.

Have you received a form for "Dividends and Distributions"?, say from a company called Computershare?

Under "Qualified dividends", there will be a $ amount.  

Your tax person will use that as income.

If you inherited some stock, find out how much it was worth when you received it.

When you sell, any profit will depend on that $ amount.

[kismet]

Yes I have gotten dividends from several, one of which is Computershare.  I did see the ordinary dividends amount listed.  That has been reported for years.