I was doing some reading around but I'm having a little trouble understanding the tax implications of investing in a taxable account (I'm new to this). I'm hoping someone here can help explain to a newbie on this.
I invested $17k into a taxable account this year but did not withdraw any of the money or sell any investments. Dividends were set to automatically re-invest.
I have a 1099 from Vanguard showing:
Total Ordinary Dividends: $454.14
Qualified Dividends: $426.94
Interest Income: $0.00
Do I owe any tax due to this?
If yes, on the $454.14 or the $426.94?
Does this affect my ability to use the 1040EZ form? Otherwise I would be able to use this form (taxable income <$100k, filing single, only ordinary wage income, std deduction)