Discussing Dividend Income
Taxpayer Interview and Tax Law Application
Leonard and Gloria are filing a joint return. Leonard and the volunteer are discussing dividend income.
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Leonard Responds… |
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| Do you and your wife own shares of stock, mutual funds, or bond funds? |
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Yes, I have an IRA and I own shares in several mutual funds and a bond fund. My wife has an IRA. Here are the statements. |
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| The earnings on the IRAs are tax deferred until you take a distribution. These 1099-DIVs are what we want right now. Are these the only Forms 1099-DIV that you received? |
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Yes. |
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| We will enter the information from each of these on the Dividend Statement in the software. It will add everything up and display it properly on your tax return. |
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I understand, thank you for explaining the process. |
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| [Indicate Leonard's responses to these questions on Part III of the intake and interview sheet.] |
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