Qualified and Ex-Dividends and LLC questions.

Robbie Klein on

How do we know if a company has qualified/not qualified or
preferred dividends? What is an ex-dividend?

Also, we are a limited liability corporation but are filing
as a partnership, as we are allowed to do. On one of the
tax interviewing questions, it asks if each member is a
...We have put in for each person that they are a General
Partner or LLC member-manager, rather than selecting the LLC
member category, is this correct way to do it?

iras1 on

In a message dated 02/13/09 15:04:38 Eastern Standard Time, rklein9066@bivio.com writes:

How do we know if a company has qualified/not qualified or
preferred dividends? What is an ex-dividend?

You can check with the company or your broker. You can also read the definitions of qualified and ordinary dividends in the IRS instructions for Form 1065 or Form 1040 or any of several other forms. The ex-dividend date is the date on which the purchaser of shares is no longer entitled to a specific dividend. You need the ex-dividend date and your holding period to determine if dividends you receive are qualifying or not.

Also, we are a limited liability corporation but are filing
as a partnership, as we are allowed to do. On one of the
tax interviewing questions, it asks if each member is a
...We have put in for each person that they are a General
Partner or LLC member-manager, rather than selecting the LLC
member category, is this correct way to do it?

Yes.

Ira Smilovitz

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