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I received a Form K-1 reporting dividends from a trust. How do I report it?

Report Form K-1 amounts as ordinary and qualified dividends on your Form 1040. If your total taxable interest or dividends for the year from all sources is more than $1,500, you must file Schedule B.

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So how much will you get (or owe) this year? That’s the million-dollar question. We happen to have three very useful calculators to help you estimate your refund or balance due.

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