Selling dividend generating stock during the first 60 days of 2020

[Rossi3839]

There is a question on the Lacerte tax organizer that asks: "Did you sell or plan to sell any dividend generating stocks or mutual funds during the first 60 days of 2020/"  Can give an example of how this should be handled if the answer is ":yes" to the question and also how would the client know the anser to the question? 

[abctax55 · Accepted solution]

By looking at their Jan & Feb 2020 brokerage statements (or, asking their financial adviser to do so..)

Capital gain treatment of the dividends on the stocks sold in that 60 day time frame is denied.

[Rossi3839]

Thank you!  I sent a previous reply and additional question but I do not see it posted.... I am not too familiar with how this site works.  I also am not notified via email for responses.  The box is checked to notify me but I am not getting notified.  Can you please give me insight to how to make sure my email address is entered correctly and properly set up?

Thanks in advance!

[blantcpa]

I would assume that the brokerage firm would issue corrected 1099 showing those dividends as not qualified.

[abctax55]

And your assumption is incorrect.  They don't, nor are they required to do so.