Qualified Dividends

[barzillai]

TP owns shares in a local corporation that owns an apartment building. He receives monthly dividend payments. However, there is no 1099-DIV issued. TP has owned this stock for several years. Can these be considered qualified dividends? What information do I need to get to determine if they are?

Thank You

[fliszt]

Are the dividends

in excess of E&P? If so, then they would be considered a return of capital and aren't taxable (up to his basis in corp).
Larry

[Nashville]

Remic

I own stock in a REMIC. I get a 1099-DIV but almost all of the dividends in box 1 are repeated in box 3.

Somehow, the way they do their accounting means that we are getting back our own money. When the REMIC starts selling their properties, I believe we will be forced to accept pass-through gains.

Your entity might not be a REMIC, but it may be operating under same principle.

[barzillai]

I have some more info. It is not REMIC. Just a corporation formed for the ownership of one apartment building. I talked to the treasurer, and she says the dividends are from E&P. If they are qualified dividends, he will qualify for the 0% tax rate, but I want to be sure. Where can I find some good info to help me determine?

Thank You