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  • Apr 7, 2009, 11:37 AM
    sales11
    Income tax
    I got a 1099-DIV for $120453.00. How much taxes should I pay on it?

    Antonio
  • Apr 7, 2009, 01:21 PM
    MukatA

    It is ordinary income and is reported on schedule B (Form 1040). Your tax will depend upon your other income.
  • Jun 6, 2009, 10:47 AM
    AtlantaTaxExpert
    It will also depend if the dividend is "qualified" or not. Qualified dividends are taxed at capital gains rates (5% or 15%).

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