Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: JOEGGFOOL One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121189  
Subject: Short Term Capital Gains Question. Date: 4/24/2001 10:03 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0



I compared my brokerage 1099 vs my monthly statements and noticed that a Short Term Capital Gain from a mutual fund had been distributed. This STCG was put into Box 1 (Ordinary Dividends) in the 1099. I questioned the brokerage and they said that Mutual Fund STCG distributions belong in ordinary dividends. I questioned several IRS people, one finally said that this is correct but could not tell me where it is specified in the tax code.

Pub 550, page 19 under Capital gains distributions states: Capital gain distributions are paid to or credited to your account. They will be shown in Box 2a of the form 1099-DIV you receive from the mutual fund..

Any Tax Gurus here that can shed light on this issue? Any idea where it's located in the tax code.?
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Back to the Future Buffalo Wild Wings
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement