The short answer is YES --the IRS will also get copies of those documents and will be looking for them to be entered into your tax return,
A 1099 DIV specifically means that the account PAID money to you. If it was re-invested or direct deposited to another account you still did receive material financial benefit of the funds --even if you didn't actually receive cash.
A 1099 B reports the sale of a security. You would have to look at the specific form to determine how much money was involved. Again, as noted above, if it was re-invested or direct deposited to another account you still did receive material financial benefit of the funds --even if you didn't actually receive cash.
The short answer is YES --the IRS will also get copies of those documents and will be looking for them to be entered into your tax return,
A 1099 DIV specifically means that the account PAID money to you. If it was re-invested or direct deposited to another account you still did receive material financial benefit of the funds --even if you didn't actually receive cash.
A 1099 B reports the sale of a security. You would have to look at the specific form to determine how much money was involved. Again, as noted above, if it was re-invested or direct deposited to another account you still did receive material financial benefit of the funds --even if you didn't actually receive cash.
Would that be double paying tax. For instance: Suppose the proceeds minus costs are reported on your taxes and you pay taxes on the gain (ex: 10k), but you don't actually take your gain ourt and it gets re-invested. Years later, you decide you want that gain (10k), wouldn't you be paying taxes on it when you take it out. You will get a 1099 distribution.
That would be double paying tax
No. You have to report the documents and TurboTax will translate it to whether it is taxable or not. If you re-invest your gain, then that would be counted as the cost of the new purchase. That will reduce your gain by the amount you re-invested.
" You will get a 1099 distribution."
That is only for a tax-deferred account.
For a tax-deferred account, you will not get a 1099-B.
In a regular investment account, withdrawals are not reported to the IRS.
There no concept of distribution.