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Form Il478 2465

Form Il478 2465

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Video instructions and help with filling out and completing Form Il478 2465

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Instructions and help about Form Il478 2465

okay for this video i wanted to cover the irs form 2439 uh these are issued by reits or ricks to represent undistributed long-term capital gains that are still included in income and subject to tax by the shareholders so i've got one slide in front of us here that covers some of the rules and then we've got a sample 2439 and then a tax return for an individual where we'll show how it's being reported and how you get credit for the tax so what is this so the 2439 again it's it means that you were invested in either a reit or a rick right so reits are real estate investment trusts risks or regulated investment companies and these entity structures uh have special federal tax uh classifications they're structured as corporations but what they can do is if they distribute enough of their capital during the year the entity itself isn't actually subject to any federal income tax right the shareholders are the ones that are picking up the dividend income and paying tax at that level now to th

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