2008 lacerte 1040 organizer question
Lacerte : 2008one of the question in the 2008 Lacerte 1040 organizer ask if taxpayer sell any dividend generating stocks or mutual funds during the first 60 days of 2009. what's the purpose for this?
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ct13DgxgGr3PKzacfA8pyY
06/18/09 5:32pm PDT
Viewed by asker 06/29/09 12:29pm PDT
Viewed by asker 06/29/09 12:29pm PDT
3 Replies
PhoebeRoberts
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Intuit Moderator
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06/18/09 5:34pm PDT
To determine whether they met the holding period for the dividends to be "qualified."
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06/19/09 10:01am PDT
follow up question for Phoebe Roberts: i usually just take the number on the 1099-DIV that said qualified dividend. are you checking every dividend on the 1099 then? i just want to see how other CPAs handle things. thanks.
PhoebeRoberts
Questions asked: 81
Questions answered: 9535
Points earned: 34949
Questions answered: 9535
Points earned: 34949
Accountant Community AllStar
Advisory council of Accountant community power users.
Intuit Moderator
Mod/Co-mod
06/19/09 11:58am PDT
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I usually use the same rule of thumb that I use for wash sales: if the client has multiple ins and outs in the same security, and is using a discount brokerage, I'll check for both divs and wash sales. Otherwise, I assume the brokerage firm did it right.
If I wanted phone calls, my phone number would be in my profile. If you have a question, post it in the applicable forum.
