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Finra Exam Series-6 Topic 8 Question 72 Discussion
Topic #: 8
Under current tax laws, which of the following distributions received from a mutual fund qualify for preferential tax treatment?
i. short-term capital gains
ii. long-term capital gains
iii. qualifying dividends
IV. non-qualifying dividends
Among other things, the trade confirmation that Anna receives must stipulate the items described in Selections I and III only. The trade confirmation that Anna receives from GetErDone must stipulate the time and date of the transaction, the number of shares sold, and the price at which they were sold. The exchange or ECN on which the transaction was executed is not provided on the confirmation statement. Whether GetErDone acted as a principal or a broker in the transaction does need to be stipulated, but in this instance GetErDone acted as a broker, not a principal. GetErDone did not itself buy the shares from Anna.
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