Economics Flashcards
What is Form 1095-B?
Form 1095-B is **a tax form that includes information about the health care coverage provided for an individual, their spouse, children and other people the individual may claim as tax dependents for one or more months.
What is the whole period for which an estate is granted?
It is referred to as a term.
Who typically sends Form 1095-B to an individual?
Form 1095-B is typically sent to an individual by their insurer or employer.
What is the main purpose of Form 1095-B?
Form 1095-B’s purpose is to show the IRS whether an individual’s health insurance coverage meets the Affordable Care Act requirements.
What is Form 1099?
Form 1099 is a tax form used to report income you received outside of a regular salary, such as freelance work, interest, dividends, or rental income. It’s sent to you and the IRS by the payer.
What is Form 1099-DIV?
Form 1099-DIV is a tax form that reports dividends and capital gains you received from investments, like stocks or mutual funds. It’s sent to you and the IRS by the payer, usually a financial institution.
What is a dividend?
A dividend is a payment made by a company to its shareholders, usually from profits, often in cash or additional shares.
What is an ordinary dividend?
An ordinary dividend is a payment from a company to its shareholders, taxed as regular income.
What is a qualified dividend?
A qualified dividend is a payment from a company that meets specific IRS criteria, taxed at a lower capital gains rate.
