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Southern Company Message Board

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  • kennybear4738 kennybear4738 Jul 23, 2010 10:53 AM Flag

    It may not mean much

    Qualified dividends are those paid on stock held more than 12 months. The qualified dividends will show on your tax form.

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    • Holding period for qualified dividends: “more than 60 days during
      the 121-day period that begins 60 days before the ex-dividend date (the
      day following the last day on which shareholders of record are entitled
      to receive the upcoming dividend payment). When the holding period
      rule is not met, dividends are taxed at ordinary income rates.”

      http://www.sunderlandcpa.com/bm~doc/11407_p10.pdf

      • 1 Reply to jessevolks
      • Well, that's not a very pretty layout is it. Wonder what happened?

        I should have added: Kennybear is right that the qualified dividend (from SO’s point of view) will be reported on the 1099-div. The company isn’t expected to know whether or not you met holding period requirements, however. One bit of tax esoteric, for example: the 60 days is supposed to be “at risk” so, for example, it wouldn't include periods that you are “short against the box” [an old-timey New Year’s day dance move]. People are supposed to adjust their reporting; there is a worksheet.

        Basically, however, if you haven’t sold any SO, holding period is not an issue. And, to sainai's real question, I’ll bet anyone $0.50 that 100% of the SO's dividend will be qualified in 2010 and (without peeking) that it has been 100% qualified ever since the distinction was introduced. Wrong?

 
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