IRS Form 2439 2021-2025 free printable template

VOID Name, address, and ZIP code of RIC or REITCORRECTED OMB No. 15450123Notice to Shareholder of Undistributed Longer Capital Rainstorm 2439 (Rev. November 2021), or other tax year For calendar year

How to fill out irs 2439 fillable form

How to fill out IRS Form 2439

1. Gather your information: Collect the tax year information and details about the disbursement from the partnership or S corporation.
2. Obtain Form 2439: Download or request a copy of IRS Form 2439 from the IRS website.
3. Complete Part I: Fill out your name, taxpayer identification number, and address at the top of the form.
4. Complete Part II: Input the name of the partnership or S corporation and their employer identification number.
5. Report your amounts: Enter the total amount of undistributed long-term capital gains from the partnership or S corporation.
6. Review tax calculations: Follow the instructions to correctly assess any tax credits related to the gains.
7. Sign and date the form: Ensure all information is accurate and sign the form at the bottom.
8. Submit the form: File the completed Form 2439 with your tax return or send it to the IRS as instructed.

Who needs IRS Form 2439?

1. Taxpayers who receive a distribution from a regulated investment company (RIC) and need to report the undistributed long-term capital gains.
2. Partners in partnerships or shareholders in S corporations that have long-term capital gains and must report those gains on their individual tax returns.

People Also Ask about 2439 form document

Do I have to report form 2439 on my tax return?

Taxpayers will need to report the capital gains and taxes paid on their income tax return. You can claim the Capital Gain Credit for any taxes paid by your Form 2439 issuer. Please remember to increase your basis in the investment by the difference between the gain you report and the credit you claim for the tax paid.

What is the tax treatment of form 2439?

The tax credit reported on Form 2439 is a dollar-for-dollar credit against any income tax liability determined on each shareholder's respective 2022 income tax return and will reduce any federal income tax liability and may result in a tax refund to the extent the credit exceeds any tax liability.

Do you report form 2439 on tax return?

Report the total amount as a long-term capital gain on the appropriate Schedule D. For example, individuals report this amount on line 11, column (h), of Schedule D (Form 1040). Estates and trusts report this amount on Schedule D (Form 1041).

What is IRS form 4797 used for?

Use Form 4797 to report: The sale or exchange of property. The involuntary conversion of property and capital assets.

What is form 2439 used for?

Use this form to provide shareholders of a regulated investment company (RIC) or a real estate investment trust (REIT) the amount of undistributed long-term capital gains.

Where do I enter form 2439 in Lacerte?

To enter the 2439 in the individual module: Go to Screen 17.1 Dispositions (Schedule D, 4797, etc.). From the Dispositions Section select Form 2439.

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What is IRS Form 2439?

IRS Form 2439 is a tax form used to report the unrecaptured Section 1250 gain and the Section 1202 exclusion for certain transactions involving real estate investment trusts (REITs) or mutual funds. It reports amounts that shareholders receive from certain types of distributions.

Who is required to file IRS Form 2439?

Shareholders of regulated investment companies (RICs) or real estate investment trusts (REITs) who receive certain kinds of distributions must file IRS Form 2439 if they have an unrecaptured section 1250 gain or Section 1202 exclusions.

How to fill out IRS Form 2439?

To fill out IRS Form 2439, you need to gather the necessary information from your investment statements, including the amounts received, the type of distribution, and your name and taxpayer identification number. The form then requires you to provide details about the distributions and any applicable gains, and you must attach it to your tax return.

What is the purpose of IRS Form 2439?

The purpose of IRS Form 2439 is to inform the IRS and taxpayers about the amounts received from distributions that require special tax treatment due to being related to unrecaptured gain or the Section 1202 exclusion from capital gains.

What information must be reported on IRS Form 2439?

The information that must be reported on IRS Form 2439 includes the name and address of the shareholder, the amount of distributions received, the relevant tax treatment for the gains stated on the form, and other information pertaining to the investment, such as the payer's name and identification number.