Quote:
Originally Posted by Gigi3000
On my taxes last year, which i did myself on turbo tax, it asked if my income was from government securities and i said yes so i assume I didnt pay taxes on it.
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You likely needed to report your income from the Vanguard fund for Federal tax purposes.
You might look at your form 1040 tax return of last year. Page 1 of the standard form 1040 on line 15 (see form at link below) is your taxable income. Above that line you will see a line for dividend income on line 3. Your Vanguard fund dividend income from your form 1099 is likely in the line 3b amount and perhaps explicitly stated on Schedule B of your tax return as Ordinary Dividends.
You can determine whether the dividend income from the Vanguard fund is part of your total reportable income on line 9 by using a calculator to add the amounts on the earlier lines identified on line 9 (i.e., add lines 1z, 2b, 3b, 4b, 5b, 6b, 7, and 8) and comparing the calculator result to line 9. Then you will know whether your dividend income from the Vanguard fund was part of your reportable income for Federal tax purposes.
STANDARD FORM 1040 FOR 2022:
https://www.irs.gov/pub/irs-pdf/f1040.pdf