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.
Rental property is a form of supplemental income.
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True. Rental property is a form of supplemental income.
3.
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.
4.
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.
5.
If you earned income from dividends last year, you will need to fill out IRS Form 1099-R to report them.
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False. If you earned income from dividends last year, you will get Form 1099-DIV in the mail.