Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: TMFExRO Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121105  
Subject: Re: Mutual Fund Tax Liability Date: 1/8/2001 9:30 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
This will be my first year filing something other than a 1040EZ. I bought into Vanguard's Total Stock Market Fund on 12/18. On 12/20 I received an Income Dividend, ST cap gain, and LT cap gain.

What the heck do I do with those numbers?


Congratulations on your graduation to the 1040. As previously noted, you'll receive a 1099-DIV showing the distribution. The dividends and short-term capital gains should be lumped in the ordinary dividends box, and you report them on Schedule B, or directly on line 9 of the 1040 if Schedule B is not required.

Assuming you didn't sell any shares of anything during the year, you'll report the long-term capital gain on line 13 of the 1040, check the box, and calculate your tax using the worksheet in the instructions for line 40.

It's easier that it sounds, once you get into it.

TMF ExRO
Phil Marti
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | 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.
Post of the Day:
TMFDeej's CAPS Blog

Activist Investors Unlocking Value at LSB Industries?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.
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