Basics Intermediate: Reporting Investment Income on Your Federal Tax Returns

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1.
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.
2.
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.
3.
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.
4.
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.
5.
To itemize your tax deductions, use ______.
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Schedule A. This schedule is used for the separate listing of deductions.