Basics Intermediate: Reporting Investment Income on Your Federal Tax Returns

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1.
The amount of money you make on an investment over your basis when the investment is sold is called _______.
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Capital gains. This amount is called capital gains.
2.
If your investment company reports undistributed capital gains, you will receive IRS form 4952.
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False. If your investment company reports undistributed capital gains, you will receive form 2439.
3.
If you experienced capital gains or losses, you should use Schedule D to report them at tax time.
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True. IRS Schedule D is used for this purpose.
4.
To determine which of your investment income is taxable, you would consult _______.
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Publication 550. Publication 550 describes income that is and is not subject to taxation.
5.
Interest you earned from bank accounts or other savings institutions is reported to you on IRS Form 1099-INT.
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True. "INT" refers to interest.