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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