How do you report interest on stock and mutual fund dividends to the IRS?

Question

i dont have a primary source of income (no w-2, no salaries/wages)

Answer 1

You should receive 1099's at tax time.

Answer 2

You should get a 1099-Div for dividends and a 1099-INT for interest from your mutual fund company.  And report it on Schedule B to the IRS.

Answer 3

Youre mutal fund company will report the dividend on a 1099-Div, the brokerage account will show the only cost basis, and the sell amount, the difference is a capital gain, if longer than 1 year, it is a long term gain and shorter than 1 year is a short term gain, if you lost money, it is all reported and taxed. Very simply