I just opened an account towards end of 2018. My bank only gave me a 1099-DIV. There is total ordinary dividends (1a) and 1b is qualified dividends. The amounts are less than $5. Do I pay taxes on dividends?
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Yes, these dividends will be subject to taxes.
There are two types of dividends ordinary and qualified dividends.
The major difference between the two are ordinary dividends are taxed at ordinary tax rates while qualified dividends are taxed at the more favorable capital gains rates.
Yes, these dividends will be subject to taxes.
There are two types of dividends ordinary and qualified dividends.
The major difference between the two are ordinary dividends are taxed at ordinary tax rates while qualified dividends are taxed at the more favorable capital gains rates.
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