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Ryder-Madi
Level 1
April 12, 2024
Question

We received dividends on stock and reinvested the dividends, where do I enter the reinvestment?

  • April 12, 2024
  • 2 replies
  • 5 views
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2 replies

Hal_Al
Level 15
Hal_AlLevel 15
Level 15
April 12, 2024

Q. We received dividends on stock and reinvested the dividends, where do I enter the reinvestment?

A. That does not get entered anywhere, on your tax return, or in TurboTax.  You enter it on your records to keep track of your cost basis (you broker/mutual fund company is probably doing that for you).

 

The dividends are taxable. The fact that you used the money to buy more shares (reinvested it), does not get you out of paying tax on that "income".  But, most dividends ("qualified dividends") are taxed at the long term capital gains tax rate, which is less than the tax rates on ordinary income. 

    P
    Alumni - Expert
    PaulaMAlumni - Expert
    Alumni - Expert
    April 12, 2024

    Enter the re-invested dividends in the Interest and Dividends section and report as it is shown on your 1099-DIV. 

     

    If you are using an online version, type '1099-Div' in the search box of your open return, then select the 'jump to 1099-Div' link, to get started.

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