It depends on whether or not the dividends are from an IRA or an investment account. Check on the form to see if this is from an IRA account or a regular brokerage account.
Dividends earned within traditional IRAs are not taxed when they are paid or reinvested. Rather, as part of an IRA's earnings, they're taxed at one's current income tax rate when they are withdrawn. Earnings on investments within a Roth IRA, including dividends, grow on a tax-free basis and are not subject to taxation when withdrawn.
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