J.K. Lasser Daily Tax Tip |
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So-Called Dividends That Are Really Interest
Distributions from the following financial institutions are called dividends, but are actually interest reported on Form 1099-INT: dividends from credit unions, cooperative banks, savings and loan associations, building and loan associations, and mutual savings banks.
Previous Daily Tax Tips:
• 9/2/2010 - Incidental Expenses
• 9/1/2010 - Appraisals for Disaster Relief
• 8/31/2010 - Reporting on Form 4684
• 8/30/2010 - $500 Floor for Married Couples
• 8/29/2010 - Stock Devaluation Due to Corporate Misconduct
• 8/28/2010 - If Stolen Property Is Recovered
• 8/27/2010 - Failure To Winterize Car
• 8/26/2010 - Auto Damage
• 8/25/2010 - Lost Bank Deposit
• 8/24/2010 - Damage to Nearby Property
• 8/23/2010 - Nontaxable Disaster Mitigation Payments
• 8/22/2010 - IRS Interest Abatement
• 8/21/2010 - Accelerating a Tax Refund With Disaster Loss
• 8/20/2010 - Deducting Loss in Proper Year
• 8/19/2010 - Loss From Termites
• 8/18/2010 - Loss Prevention Measures
• 8/17/2010 - Form 8853
• 8/16/2010 - Long-Term Care Insurance
• 8/15/2010 - Disability-Related Job Costs
• 8/14/2010 - Does Equipment Increase Value of Home?
• 8/13/2010 - Nurse Services
• 8/12/2010 - Meal Costs at a Nursing Home
• 8/11/2010 - Counseling at a Private School
• 8/10/2010 - Meal Costs of Medical Trip
• 8/9/2010 - Deductible Travel Costs
• 8/8/2010 - Multiple Support Agreement
• 8/7/2010 - Should Spouses File Separately?
• 8/6/2010 - Long-Term Care Premiums
• 8/5/2010 - Reimbursements Exceeding Expenses
• 8/4/2010 - Sex Change Operation Not Deductible
• 8/3/2010 - Childbirth Classes
• 8/2/2010 - Deducting Costs of Health Improvement Programs
• 8/1/2010 - Weight-Loss Program for Obesity
• 7/31/2010 - Over-the-Counter Drugs
• 7/30/2010 - Only Unreimbursed Expenses Are Deductible
• 7/29/2010 - Value Portion of Auto License Fee
• 7/28/2010 - Buyer Share of Real Estate Tax
• 7/27/2010 - Form 1099-S for Sale of Principal Residence
• 7/26/2010 - Cooperative Apartments
• 7/25/2010 - Refund Credited to State Estimated Tax
• 7/24/2010 - Deduction for Sales/Excise Taxes on New Motor Vehicle
• 7/23/2010 - State Income Tax Paid in 2009
• 7/22/2010 - Business or Investment Loans
• 7/21/2010 - Using Borrowed Funds To Pay Interest
• 7/20/2010 - Keep Loans Separate
• 7/19/2010 - Tax-Exempt Income From Mutual Fund
• 7/18/2010 - Electing To Treat Long-Term Gains or Dividends as Investment Income
• 7/17/2010 - Interest on Loans To Buy Market Discount Bonds and Treasury Bills
• 7/16/2010 - Points Reported to the IRS
• 7/15/2010 - Amortize Points Starting in Second Year
The Daily Tax Tip content is provided by America's all-time best selling tax guide, J.K. Lasser's™ Your Income Tax Guide by John Wiley & Sons, Inc. Tax advice provided by The Daily Tax Tip shall not be construed as a substitute for the advice obtained or given by a certified tax professional.



