How should John report the capital gains distributions

Assignment Help Accounting Basics
Reference no: EM132523744

Question - John owns shares in a mutual fund and shares of individual stocks in his brokerage account. The Form 1099-DIV from the mutual fund indicates $2,000 of capital gains distributions and the form from the brokerage firm indicates $6,000 of capital gains distributions. The brokerage statement also indicated a long term capital loss of $1,850 on a stock sale. How should John report the capital gains distributions?

a. He is not required to report them until he sells the underlying securities.

b. He should report them directly on Form 1040.

c. He should report them on Schedule D.

d. He should report them on Form 8949 and then on Schedule D.

Reference no: EM132523744

Questions Cloud

Manuscript speech and extemporaneous speech : Your supervisor recently announced that you and a colleague, Bruce, will have an opportunity to meet with the company's CEO in 2 hours
What the labor volume variance is : Firm P produced 45,000 cellphones using 9,000 hours of labor in 2004; total labor costs were $54,000. What the labor volume variance is
How much is a share of common stock selling : If dividends are expected to grow at 7% every year with a market yield of 15%, how much is a share of their common stock selling?
Find materials price variance resulting from production run : Find The materials price variance resulting from the production run is. The materials volume variance resulting from the production run is
How should John report the capital gains distributions : The brokerage statement also indicated a long term capital loss of $1,850 on a stock sale. How should John report the capital gains distributions
Estimate the per-share value of dg : Delacour estimates DGs required rate of return on equity as 12 percent. Using the H-model estimate the per-share value of DG.
Describe concept on modular design as related to computers : Describe the concepts of "abstraction" as related to computer hardware and software design. Describe the concept on "modular design" as related to computers.
What is estimate of the cost of inventory : Miller, Ltd. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. What is estimate of the cost of inventory
Regression fundamental equation : If the firm's earnings growth rate is 5.0% and actual P/E is 16.0, what is the justified P/E using the regression fundamental equation = 10.5

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd