The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Dividends and Capital Gains?||Date: 3/9/1998 10:05 AM|
|Author: TMFTaxes||Number: 2510 of 123001|
[[I am a new investor and 1997 earned me a few dollars
in dividends. Here is what I got in 1997 :
1. Dividend from Savings Account]]
Generally, savings accounts are INTEREST...and not dividends. Even if your savings account is in a credit union, and the credit union calls it a dividend. The credit union will still report the interest to you on Form 1099INT. Which means it is an interest payment.
[[ 2. Dividend from my DRIPs.]]
These are certainly dividends, and should be reported as such.
[[ 3. Distributions from my Index Fund because of
turnover in 1997.]]
You may have divide