Tax Treatment for Dividends Reinvested in DRip Plans

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Bradley Sharp

May 5, 2022, 9:51:55 PM5/5/22
to Dividend Investing for U.S. Investors
Back again after a retirement from my job and a move to SW Florida.

I have a plethora of DRiP plans where I am reinvesting the dividends and then paying income tax each year on the total amount.

My question is this - when you sell 100% of the stock position and close the DRiP, can you deduct the amount of previously reinvested dividends from the taxable sales proceeds since you already paid income tax on them in previous years?  

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