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New Member
posted Apr 17, 2023 3:19:46 PM

1099-div has a reinvest amount 1029.06$ should that be taxed ?

1099-div has a reinvest amount 1029.06$ should that be taxed ?

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2 Replies
New Member
Apr 17, 2023 3:25:34 PM

Yes you earned the dividend. It would not be taxed if it was in an IRA account

Expert Alumni
Apr 17, 2023 6:11:59 PM

Investors ​​​​​​​do have to report dividends as taxable income even if they reinvest them to buy more shares. Companies and brokerage companies will report such dividends on 1099-DIV forms the same way regardless of whether you reinvest in new shares, and the IRS will expect you to include them on your annual tax return. You should receive a 1099-DIV for the stocks that are in the dividend reinvestment program.

 

Stocks (Options, Splits, Traders) 2 | Internal Revenue Service (irs.gov)

 

@jonbojouner