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Joe Craig
Ellicott City, MD
StockCentral Administrator
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| 02/14/2008 10:27 AM |
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These topics are always of interest, and interest grows this time of year.
If you'd like some help with closing your club's books and filing those State and Federal tax returns, look no further. StockCentral's Learning Libary has a new volume: a Powerpoint presentation that discloses all of the details.
I also expect this to appear quickly in The Club Hub: Investment Club Learning Center. |
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Joe |
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Joan Wacker
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| 03/10/2008 10:36 AM |
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Our club has owns shares in an ETF. It declared a dividend at the end of Dec . 07, which wasn't paid until the end of January 08. Do we report this on our fed. income tax for 2007 or 2008. We received a corrected 1099 with this included in it for 2007.
Thanks for any help.
Joan Wacker |
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IRA SMILOVITZ
Leonia, NJ
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| 03/10/2008 10:43 AM |
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It's reportable in 2007. You need to enter the dividend in your software as
of 12/30/07. Make sure that the ETF is identified as a "stock:other" or mutual
fund in the security profile. Otherwise the qualified/nonqualified dividend
allocation won't be correct on your tax return.
Ira Smilovitz
In a message dated 03/10/08 10:37:17 A.M. Eastern Daylight Time,
clubhouse@stockcentral.com writes:
Our club has owns shares in an ETF. It declared a dividend at the end
of Dec . 07, which wasn't paid until the end of January 08. Do we report
this on our fed. income tax for 2007 or 2008. We received a corrected
1099 with this included in it for
2007.
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Joe Craig
Ellicott City, MD
StockCentral Administrator
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| 03/13/2008 9:52 AM |
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Thanks for the prompt reply, Ira! |
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Joe |
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