Let's say you owned a $100,000 position in Fortis ( TSX:FTS ) at the beginning of 2024. The stock paid a $2.46 dividend over the course of 2024 and cost $55.64 at the start of it. So, you earned a 4.4% yield. If you sold the Fortis shares right before the end of the year you would have also realized a 9% capital gain. That's about a 13.4% total return. The taxes on that could be quite substantial, and the more years you go without paying them, the more you'll have to ultimately pay when the CRA catches up with you. So, always report your investment income and pay the taxes on it. You'll thank me later.