2006-12-04 08:04:57 · 3 answers · asked by hello 1 in Business & Finance ➔ Taxes ➔ United States
Not sure what monthy payments you are speaking of. As for the Dividends they are reported to the IRS by the company issueing the stock as it is a deduction since they paid that amount out.
If you don't declare it on your taxes it could trigger an audit.
2006-12-04 08:15:16 · answer #1 · answered by chuck m 2 · 0⤊ 0⤋
These stock dividends are taxable and the tax is based on your Federal tax bracket. Not sure what monthly payments you are talking about. If you mean your quarterly estimated tax payments to IRS they will go up by the taxes on the dividends.
2006-12-04 16:21:57 · answer #2 · answered by spicertax 5 · 0⤊ 0⤋
You need to report them with your taxes - they're taxable.
If by monthly payments you're talking about your social security, dividends wouldn't affect that no matter how old you are.
2006-12-04 21:38:22 · answer #3 · answered by Judy 7 · 0⤊ 0⤋