I was just informed the dividend I received of $6300 which was reported as an ordinary dividend is in fact a qualified dividend. Does this change my tax obligation?

makemyday55 · ‎June 6, 2019

If less tax obligation should I amend my return?

MinhT · ‎June 6, 2019

Ordinary dividends are taxed at the ordinary income tax rates while qualified dividends are taxed at the lower capital gain rates. In any case, qualified dividends are always taxed at a lower rate than non-qualified dividends.

You cam amend your tax return to lower your tax liability and obtain a refund.

Please read this document for more information:

https://www.fool.com/knowledge-center/qualified-dividends-vs-ordinary-dividends.aspx

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View solution in original post

MinhT · ‎June 6, 2019

Ordinary dividends are taxed at the ordinary income tax rates while qualified dividends are taxed at the lower capital gain rates. In any case, qualified dividends are always taxed at a lower rate than non-qualified dividends.

You cam amend your tax return to lower your tax liability and obtain a refund.

Please read this document for more information:

https://www.fool.com/knowledge-center/qualified-dividends-vs-ordinary-dividends.aspx

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

I was just informed the dividend I received of $6300 which was reported as an ordinary dividend is in fact a qualified dividend. Does this change my tax obligation?