(Including Capital Gains and Losses)
For use in preparing 2007 Returns
Table of Contents
- Publication 550 - Introductory Material
- 1.
Investment Income
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- General Information
- SSN for joint account.
- Custodian account for your child.
- Penalty for failure to supply SSN.
- Certification.
- Underreported interest and dividends.
- How to stop backup withholding due to underreporting.
- How to stop backup withholding due to an incorrect identification number.
- Reporting backup withholding.
- Nonresident aliens.
- Penalties.
- Savings account with parent as trustee.
- Interest Income
- Terms you may need to know (see Glossary):
- Interest not reported on Form 1099-INT.
- Nominees.
- Incorrect amount.
- Information-reporting requirement.
- Taxable Interest — General
- Below-Market Loans
- U.S. Savings Bonds
- U.S. Treasury Bills, Notes, and Bonds
- Bonds Sold Between Interest Dates
- Insurance
- State or Local Government Obligations
- Discount on Debt Instruments
- When To Report Interest Income
- How To Report Interest Income
- Dividends and Other Corporate Distributions
- How To Report Dividend Income
- Stripped Preferred Stock
- REMICs, FASITs, and Other CDOs
- S Corporations
- Investment Clubs
- 2. Tax Shelters and Other Reportable Transactions
- 3. Investment Expenses
- 4.
Sales and Trades of Investment Property
- Introduction
- Topics - This chapter discusses:
- Useful Items - You may want to see:
- What Is a Sale or Trade?
- Basis of Investment Property
- How To Figure Gain or Loss
- Nontaxable Trades
- Transfers Between Spouses
- Related Party Transactions
- Capital Gains and Losses
- Terms you may need to know (see Glossary):
- Capital or Ordinary Gain or Loss
- Holding Period
- Nonbusiness Bad Debts
- Short Sales
- Wash Sales
- Options
- Straddles
- Sales of Stock to ESOPs or Certain Cooperatives
- Rollover of Gain From Publicly Traded Securities
- Gains on Qualified Small Business Stock
- Rollover of Gain From Sale of Empowerment Zone Assets
- Reporting Capital Gains and Losses
- Special Rules for Traders in Securities
- 5. How To Get Tax Help
- Glossary
- Index
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