Much to my surprise I received a 1099-DIV statement from my bank that reports:
A. Total Ordinary Dividends
B. Qualified Dividends
C. Total Capital Gain Distributions
I have leaned that these come from by new bank investment account where I moved some money in the past year or so. I have not touched this account at all. But apparently behind the scene the administrator is moving money around by selling and buying shares, sort of like a mutual fund. But again it is worth noting the account goes untouched by me.
Must I report these dividends and gains even though I did not touch any of the account money? I was under the impression I would only need to report gains when I actually withdrew the money?
