One of my stocks did something odd. We have been issued new 1099s for dividends of that stock in 2009 and 2010. What they have done is they have reclassified some portion of the dividends as "return of capital", and advised us to refile our returns since our dividends are now much less (and so we should get some of our tax money back). Never heard of such a thing, but apparently it's legit.Anyway, I need to open my Turbo Tax and revise the 1099 inputs, and then refile. Am I correct that the monies I get back from this only affect taxable income this year (2011)? Or do I have to move the new 2009 numbers into the appropriate 2010 lines too? My AGI is going to change, and my refund (or amount paid) will also change, and certainly any refunds are taxable the following year. But I'm assuming that since I would be receiving these funds this year that this is when they are taxed. Yes?1poorguy (not looking forward to this, but it's a few hundred bucks so I'm gonna do it)
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