PGE deferred paying any dividends for 5 years. In 2022 they paid all dividends that were due from prior years.
Do I have to report all that income as dividend income in 2022 or is there a way to mitigate the tax I may owe?
PGE indicated talking to tax advisor on how to manage.
TIA
only preferred stock got the dividend because it was issued as cumulative preferred which means that any unpaid dividends must be paid to the preferred stock holders before any dividends are paid to common stock holders. there is still time left n 2022, so the company could pay a common stock dividend once it satisfies the dividend arrearage on the cumulative preferred.
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