Basics Intermediate: Reporting Investment Income on Your Federal Tax Returns

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1.
IRS Publication 590 covers _______.
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Individual retirement accounts. Publication 590 is your guide for IRA tax issues. It is divided into two versions -- 590a and 590b.
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.
If you traded stocks last year, you will receive IRS information return _______ to report them.
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1099-B. Form 1099-B is the form used for stock transactions.
5.
The amount of taxable gain or loss on an asset is the difference between the amount you sell it for and its basis.
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True. The amount of taxable gain or loss on an asset is the difference between the amount you sell it for and its basis.