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1.
To itemize your tax deductions, use ______.
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Schedule A. This schedule is used for the separate listing of deductions.
2.
Dividends reinvested to buy more securities are not taxable as ordinary income.
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False. Dividends reinvested to buy more securities are taxable as ordinary income (except in the case of tax-sheltered accounts).
3.
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.
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.
If your investment company reports undistributed capital gains, you will receive IRS form 4952.
Choose wisely. There is only one correct answer.
False. If your investment company reports undistributed capital gains, you will receive form 2439.