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There is a question on the Lacerte tax organizer that asks: "Did you sell or plan to sell any dividend generating stocks or mutual funds during the first 60 days of 2020/" Can give an example of how this should be handled if the answer is ":yes" to the question and also how would the client know the anser to the question?
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By looking at their Jan & Feb 2020 brokerage statements (or, asking their financial adviser to do so..)
Capital gain treatment of the dividends on the stocks sold in that 60 day time frame is denied.
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Thank you! I sent a previous reply and additional question but I do not see it posted.... I am not too familiar with how this site works. I also am not notified via email for responses. The box is checked to notify me but I am not getting notified. Can you please give me insight to how to make sure my email address is entered correctly and properly set up?
Thanks in advance!
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I would assume that the brokerage firm would issue corrected 1099 showing those dividends as not qualified.
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And your assumption is incorrect. They don't, nor are they required to do so.
