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haroldbecker3201
New Member

Dividends

We are retired and most of our income is from dividends. Is there any way to deduct written or oral professional advice?

3 Replies
MinhT1
Employee Tax Expert

Dividends

No, investment expenses are no longer deductible as the Tax Cuts and Jobs Act (2017) has suspended the deductibility of certain investment expenses subject to the 2% of AGI floor.

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cyberbjjc
Returning Member

Dividends

Im trying to file my walt disney dividends. but when i looked online, Disney (DIS) has announced that they are suspending dividends as of Nov 12, 2020. does that mean I am not receiving any forms for taxes? and does that mean I have nothing to report and do not include them on the taxes?

DawnC
Employee Tax Expert

Dividends

No, it doesn't mean you won't receive a tax form.  If they paid you dividends in 2020, you should receive a 1099-DIV and you should be able to retrieve that document from the institution you normally get it from.   And you have to claim the dividends you received in 2020 on your 2020 tax return.   @cyberbjjc    Now, if you did not receive any dividends in 2020, you have nothing to report.   

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