I have mutual fund dividends and i sold a few stocks which I have less than one year. I did not cash in any of the mutual funds. How do I tally all of this on my tax form, 1040??? Do I add of all them together on sectin 2? My total is over 1500$ But individually the mutual fund income is less than 1500 and so is the stock?
So how do i file all of this?
Answer by Muga Wa Kabbz
Get an accountant to help you with this. An accountant will be able to make sense of the numbers; just give them the accountant activity statements and they’ll do it for you.
Answer by Judy
The dividends go on the line of the 1040 just below the interest, line 9. If there are capital gains distributions from the mutual fund (most of the time, there are) those will go on your schedule D, line 13. Since you sold stocks, you’ll be filing a schedule D this year to show any gain or loss on those sales. You’ll need to know exactly when you bought them, and how much you paid for them. Since you held them less than one year, the info will go into the short term section of the schedule D. Follow the instructions for schedule D – they aren’t too hard. If you use tax software, it will be easy since the software will do the calculations for you.
Answer by dizneyfreak1
Interest & dividends are reported on Sched. B / sales on Sched D
Use a tax pro – not H&R Block since they don’t know what they are doing
Santa Ana, CA (PRWEB) May 22, 2014
Due to the constant changes and confusion related to the IRS Code, the founders of Optima Tax Relief recognized the need for a trusted and modern approach to an antiquated tax resolution industry. The Company has expanded rapidly in 2014, increasing its office space by more than 10,000 square feet and adding 25 new tax professionals, including both Tax Attorneys and Licensed Enrolled Agents to help taxpayers in dealing with the IRS.
Combining their unique two-phase approach to tax resolution, technological innovation, and a team of highly skilled professionals, Optima Tax Relief has positioned itself to be a leading tax resolution firm in America and looks to even greater growth in the second half of the year. Since inception, the firm has assisted thousands of clients, resolved over 80% of all wage garnishment issues, and averaged a 95% reduction on all outstanding tax debts presented for settlement. Optimas growth correlates to the recent expansion of aggressive collection efforts at the IRS as well as the increasing complexity of the tax code.
Looking back 78 years ago, IRS Form 1040 instructions were a mere two pages. Today, taxpayers are forced to stumble through 214 pages of instructions – not to mention the more than 1,120 additional tax forms & schedules one might need to worry about alongside their 1040. Recently published tax codes and supporting regulations total over 14.4 million words. In total, there have been approximately 4,680 changes to the Tax Code since 2001, making the IRS tax codes perhaps the most complicated regulations to date.
These complexities have caused over 90% of taxpayers to turn to tax software and professional tax preparers to complete their returns each and every year and even still, taxpayers made a whopping 10.6 million math errors on their returns in 2014! Recently, PC World ran a scenario of a hypothetical taxpaying family through five of the most popular online self-guided tax preparation sites. Each came up with a different result with a variance of almost $ 2,000.
I can confirm that our tax attorneys and CPAs are seeing both an increase in the number and complexity of tax resolution cases they are working on, says Jesse Stockwell, Managing Partner of Optima Tax Relief. With so much confusion surrounding the IRS tax codes, hiring a professional is not only recommended, but essential. Without trusted advice, you could potentially be paying thousands more than what you really owe and thats a lot more painful than the fees associated with professional services.
About Optima Tax Relief
Optima Tax Relief, LLC, headquartered in Orange County, CA, is a nationwide tax resolution firm which provides assistance to those individuals struggling with unmanageable IRS or state tax burdens. The companys unique two-phase approach to tax relief is revolutionary in the industry, as it provides consumers with transparency into their options well before they pay fees toward a resolution program. Optima received full accreditation by the Better Business Bureau and consists of a highly professional team of individuals that have many years of experience helping clients with their financial issues.
To learn more about Optima Tax Relief you can reach them at 1-800-536-0734 or via their website at http://www.optimataxrelief.com.
I’ve been searching online, and I’m only able to access the current year tax forms (for tax year 2014). Does anyone know how I can print out a blank 1040 tax form for tax year 2014? The websites I’ve found only allow me to complete it online, and I’m looking to print out that blank copy.
If anyone can help, I’d really appreciate it! Thanks in advance.
Thank you so much!! I got it!!
Answer by tro
what web site are you using
www.irs.gov has forms and has prior years form as well
and if you can’t get it that way you can order them at 1 800 829 3676
Answer by acermill
Simple. Use the IRS URL provided below. It covers a ‘fillable’ 1040 for 2014, BUT you can simply print it blank, without filling in anything.
Answer by Bobbie
www.irs.gov website and use the search box for Prior Year Forms and Publications
Find prior year forms, instructions, and publications
You print the blank copy and then fill it out or you can fill it out and then print it which ever way that you choose to do it and you can also find the instruction available to you to use as you want to.
Hope that you find the above enclosed information useful. 02/17/2013