572255
SO I have many AMERICAN FUNDS accounts and I am just investing...I haven't pulled anything out. Do I report Dividends and LONG term capital gains on my taxes?
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Yes, dividends and long-term capital gains that are reported to you on Form 1099-DIV are considered to be taxable income, even if you do not receive the funds (they are reinvested on your behalf).
Since these are taxable transactions, they will increase your basis in the stocks/funds they are paid on, which will result in lower taxes when you eventually sell them.
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