Section 897

[jasdlm]

I was today years old when I saw my first Section 897 Dividends and Capital Gains on a 1099-Div.  Had to look it up and remind myself exactly what it is, and I have been doing this for 20 years.  Hmmm.  

[joanmcq]

First time it’s on the Div. 

[Catherine]

You're way ahead of me, @jasdlm because I haven't a clue what a Section 897 Dividend is and would have to look it up if I ever saw one. Thirty years of doing tax returns and not something I have ever run into.

[BulldogTom]

14 minutes ago, Catherine said:

You're way ahead of me, @jasdlm because I haven't a clue what a Section 897 Dividend is and would have to look it up if I ever saw one. Thirty years of doing tax returns and not something I have ever run into.

What Catherine said.   I am waiting for someone to post what the heck that is....just have not had the time or the inclination to look it up myself.

Tom
Longview, TX

[Catherine]

On 4/20/2023 at 4:21 PM, BulldogTom said:

I am waiting for someone to post what the heck that is

I looked it up, and the summary blurby said this: "Section 897 Dividends refers to any distributions made to the extent attributable to a Section 897 capital gain. This capital gain is defined as US Real Property Interests (USRPI) and is recognized by the recipient from the disposition of a USRPI."

Good thing they added the bit about USRPI gain, because the first sentence all by itself is as useless as as a glass of water against a blast furnace's fire.