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Wellington VWELX 1099 DIV

Bogleheads • View forum - Investing - Help with Personal Investments - www.bogleheads.org
Hello all

I have enjoyed doing my taxes last few years with Turbotax

Now I am think of using VWELX as my income fun in retirement.

I am just wondering will it be simple to report my taxes each year ie will I receive a 1099DIV each year and that is it ... all information on it.

The reason I wonder is that in an old post here ( copied below)

Electron stated

"

A holder of Wellington Fund in a taxable account would receive a 1099-DIV at the end of each tax year listing the details of any distributions.

In general, it would show Ordinary Dividends, Qualified Dividends, and Capital Gain Distributions.

The stock and bond income would be handled with the Ordinary Dividend and Qualified Dividend amounts.

Any net gains taken by the fund would result in Capital Gain distributions.

Selling shares would result in a 1099-B at the end of the year and typically results in realizing a Capital Gain or Loss."

BUT

Scott S stated

"Unread postby Scott S » Mon Apr 25, 2011 11:45 am

Does your friend do his own taxes? I'm guessing not, because there's some extra pain when you have to add up all the dividends and tack that onto your income, causing you to pay more.

- Sctt .... "

I am just wondering .. will all the tax information I need be on the 1099 div like the forms I get from Ally bank for cd's ect or is there an extra step I need to take with wellington fund and do calculations on my own .. I am worried this will be too complicated for me as scott refers to adding up dividends .... I do not plan to sell the fund ..just use for my retirement income. Thank you all James


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