Problem 2-20 (Algorithmic) Interest and Dividend Income (LO 2.9) Sally and Charles Heck received the following Form 1099-DIV in 2018: CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1a Total ordinary dividends OMB No. 1543-0110 $978.00 2018 Dividends and Distributions 1b Qualified dividends wilson Corporation 33113 Hilltop Drive Alpine, CA 91901 $ 663.00 Form 1099-DIV 2b Unrecap. Sec. 1250 2a Total capital gain distr. RECIPIENT'S TIN 2c Section 1202 gain 2d Collectibles (28%) gain PAYER'S TIN 27-1234567 313-13-1313 RECIPIENT'S name 3 Nondividend distributions 4 Federal income tax withheld Copy B For Recipient ient Activate Windo Go to Settings to ad Sally Heck I$ 0.00 The Hecks also received the following dividends and interest in 2018 (Forms 1099-DIV not shown): Sally Charles Jointly Qualifying dividends: General Motors $780 IBM $2,460 Gene Corporation $3,415 Interest: Dime Box Bank First National Bank 863 1 Amount Part I Interest (See instructions and the instructions for Form 1040, line 2b.) List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence, see the instructions and list this interest first. Also, show that buyer's social security number and address Dime Box Bank 10 First National Bank Note: If you received a Form 1099-INT, Form ........................................................................ 1099-OID, or substitute statement from a brokerage 2 Add the amounts on line 1. firm, list the firm's 3 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach name as the payer Form 8815 and enter the total interest shown on 4 Subtract line 3 from line 2. Enter the result here and on Form 1040, line 2b ..... that form. Note: If line 4 is over $1,500, you must complete Part III. Part II 5 List name of payer Ordinary Dividends General Motors (See instructions 873 Amount 780 and the instructions IBM for Form 1040, line 3b.) 2,460 3,415 Gene Corporation Note: If you received a Form 1099-DIV or Wilson Corporation substitute statement from a brokerage 6 Add the amounts on line 5. Enter the total here and on Form 1040, line 3b ...... firm, list the firm's name as the payer and enter the ordinary dividends Note: If line 6 is over $1,500, you must complete Part III. shown on that form. Problem 2-20 (Algorithmic) Interest and Dividend Income (LO 2.9) Sally and Charles Heck received the following Form 1099-DIV in 2018: CORRECTED (if checked) PAYER'S name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. 1a Total ordinary dividends OMB No. 1543-0110 $978.00 2018 Dividends and Distributions 1b Qualified dividends wilson Corporation 33113 Hilltop Drive Alpine, CA 91901 $ 663.00 Form 1099-DIV 2b Unrecap. Sec. 1250 2a Total capital gain distr. RECIPIENT'S TIN 2c Section 1202 gain 2d Collectibles (28%) gain PAYER'S TIN 27-1234567 313-13-1313 RECIPIENT'S name 3 Nondividend distributions 4 Federal income tax withheld Copy B For Recipient ient Activate Windo Go to Settings to ad Sally Heck I$ 0.00 The Hecks also received the following dividends and interest in 2018 (Forms 1099-DIV not shown): Sally Charles Jointly Qualifying dividends: General Motors $780 IBM $2,460 Gene Corporation $3,415 Interest: Dime Box Bank First National Bank 863 1 Amount Part I Interest (See instructions and the instructions for Form 1040, line 2b.) List name of payer. If any interest is from a seller-financed mortgage and the buyer used the property as a personal residence, see the instructions and list this interest first. Also, show that buyer's social security number and address Dime Box Bank 10 First National Bank Note: If you received a Form 1099-INT, Form ........................................................................ 1099-OID, or substitute statement from a brokerage 2 Add the amounts on line 1. firm, list the firm's 3 Excludable interest on series EE and I U.S. savings bonds issued after 1989. Attach name as the payer Form 8815 and enter the total interest shown on 4 Subtract line 3 from line 2. Enter the result here and on Form 1040, line 2b ..... that form. Note: If line 4 is over $1,500, you must complete Part III. Part II 5 List name of payer Ordinary Dividends General Motors (See instructions 873 Amount 780 and the instructions IBM for Form 1040, line 3b.) 2,460 3,415 Gene Corporation Note: If you received a Form 1099-DIV or Wilson Corporation substitute statement from a brokerage 6 Add the amounts on line 5. Enter the total here and on Form 1040, line 3b ...... firm, list the firm's name as the payer and enter the ordinary dividends Note: If line 6 is over $1,500, you must complete Part III. shown on that form
