[GNC] TXF Categories

[sunfish62 at yahoo.com]

Yes, it has ordinary dividends. 

⁣David T. ​

On Mar 15, 2025, 1:34 AM, at 1:34 AM, "Stan Brown (using GC 4.14)" <stan+gc at fastmail.fm> wrote:
>On 2025-03-14 14:09, sunfish62--- via gnucash-user wrote:
>> I believe that txf has a standard
>> (https://taxdataexchange.org/docs/txf/v042/index.html) that governs
>> what gets puts into the GnuCash system. There doesn't appear to be an
>> entry for non-qualified dividends in the spec, although there is an
>> entry for qualified dividends.
>Is there anything there for ordinary dividends? That's the terminology
>I
>see in the tax documents I've looked at. However, Form 1040 line 3
>confusingly uses "ordinary dividends" to mean total dividends,
>comprising both qualified dividends and ordinary a/k/a non-qualified
>dividends.
>
>On 2025-03-14 12:40, David Carlson wrote:
>> I don't think the government cares about qualified income except if
>> it affects costs when you take a distribution, so that may not even
>> appear in the tax report.
>
>In a regular old non-tax-advantaged brokerage account, dividends are
>taxed in the year they were earned. Accounting for qualified dividends
>is important to the _taxpayer_ because qualified dividends get
>favorable
>tax treatment: see the Qualified Dividends and Capital Gains Tax
>Worksheet. The dividends in that brokerage account that are not
>qualified dividends are taxed at the same rates as ordinary income.
>
>In an IRA or similar retirement account, on the other hand, there's no
>need to account for dividends separately because all you have is
>"gains"
>or "losses". When you withdraw the money, gains of whatever type are
>either taxable at the same rates as ordinary income or not taxable at
>all, depending on complex rules.
>
>Stan Brown
>Tehachapi, CA, USA
>https://BrownMath.com
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