Announcement

Collapse
No announcement yet.

qualified 5 year capital gain

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    qualified 5 year capital gain

    My customer holds shares a large-cap (non-IRA) mutual fund.
    His brokerage statement for December shows a large LTCG distribution from this fund, and it is shown as qualified 5 year capital gain.
    The 1099-DIV for 2018 just shows regular Total Ordinary & Qualified Divs and Cap Gain Distributions / no mention of any 5 year gain.
    I remember there were special 2 and 5 year cap gain rates for these holding periods a number of years ago but aren't these gone now ?
    Think maybe the mutual fund just recorded it that way years ago, although it is no longer applicable, the statement shows this 5 year identifier ?
    I'll have go by what the 1099-DIV says, not the brokerage statement, but I just want to make sure I'm not missing something here.
    Thanks for any comments.

    #2
    Section 1244 stock has a 5 year requirement. Perhaps the mutual fund had some ยง1244 Stock???

    On the other hand, if the 1099-DIV and nothing else mentions 1244, that may not be the case.

    Comment


      #3
      On the statement are there other LTCG listed? I wonder if they put the number of years down for all of them.
      "Dude, you are correct" Rapid Robert

      Comment

      Working...
      X