LINE 3b ORDINARY DIVIDEND INCOMEEach payer should send you a Form 1099-DIV. Enter your total ordinary dividends on line 3b. This amount should be shown in box 1a of Form(s) 1099-DIV. If you are including your child’s ordinary dividends in the total on line 3b, check box 2 on line 3c. For more information, see the Instructions for Form 8814.You must fill in and attach Schedule B if the total is over $1,500 or you received, as a nominee, ordinary dividends that actually belong to someone else. Non-Dividend DistributionsSome distributions are a return of your cost (or other basis). They will not be taxed until you recover your cost (or other basis). You must reduce your cost (or other basis) by these distributions. After you get back all of your cost (or other basis), you must report these distributions as capital gains on Form 8949. For details, see Pub. 550.TAX TIP: Dividends on insurance policies are a partial return of the premiums you paid. Do not report them as dividends. Include them in income on Schedule 1, line 8z, only if they exceed the total of all net premiums you paid for the contract. TAX TIP: If you are including your child’s dividends on either line 3a or 3b, check the applicable box on line 3c.
Created 5/30/2025 by administrator. |