Dividends

Dividend income is taxable dividend income reported to you on Form 1099-DIV.  Stock dividends and dividend income are distributions from corporations of money, stock, or other property due to your ownership of shares in the corporation.

Corporate dividends are subjuct to dividend income tax and are paid to shareholders out of corporate earnings and profits when the board of directors approves the dividend payment.

When you invest in the stock market in dividend paying stocks or high yield stocks, you are required to pay taxes on dividend income. The dividend received on high dividend yield stocks, preferred dividends, or a stock dividend is taxable to you.

Ordinary dividends and qualified dividends are reported on Form 1099-DIV and subject to federal income tax. Ordinary dividends are taxable as ordinary income at your current tax rate while qualified dividends are taxed at a lower rate of 5%.  10% or 15% or sometimes tax free depending upon your tax bracket. The tax rate of dividends depends upon your income level.

Dividend income can also be received from a Schedule K-1 via pass through income from a:

• Partnership
• Estate
• Trust
• Subchapter S corporation

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Reinvested dividends must also be reported on your income tax return even if you did not receive or withdraw the dividends for receive a Form-DIV.

Form 1099-DIV shows:

•  Ordinary dividends
•  Qualified dividends
•  Nontaxable distributions
•  Capital gains

Dividend income is reported on your federal income tax return on Schedule B and any capital gains on the Form-DIV are reported on Sch D.