1099-DIV Dividend Income
Question: Is the tax on the Permanent Fund Dividend and Resource Rebate taxable? |
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Answer: The Internal Revenue Service reminds Alaskans that the Alaska Permanent Fund Dividend and this year's Resource Rebate payment is taxable income for both adults and children, and must be reported on a Federal income for both adults and children, and must be reported on a Federal income tax return. Because of the size of the Permanent Fund Dividend this year, every child under 18 who is a dependent will be required to file a tax return, and will be affected by the "kiddie tax" rules. Many older children may be affected as well. See A Reminder to Alaskans for more details. |
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Page Last Reviewed or Updated: November 26, 2008