Have appointment with tax guy tomorrow. Just realized don't have 1099 for a stock that'll be less than $10 dividends. OK to forget about it? BTW what became of our EA Tax guy?
Tax Question
by Anonymous | reply 5 | March 15, 2019 2:09 AM |
I believe that less than $10 doesn't get reported to the authorities.
by Anonymous | reply 1 | March 13, 2019 10:50 PM |
You're pretty much going to jail. Pre-lube now.
by Anonymous | reply 2 | March 13, 2019 10:51 PM |
I don't know what the cut-off is, but I had a similar situation with a $30-ish dividend payment over 12 months. I didn't get a 1099. I reported it anyway, but I doubt I would have been called out if I hadn't.
by Anonymous | reply 3 | March 13, 2019 10:53 PM |
R2 is right. FBI is on it.
by Anonymous | reply 4 | March 13, 2019 10:53 PM |
All amounts are taxable, but there's no requirement to issue a 1099 for interest or dividends if they're under $10. However, if you know the amount, it probably will make little or no difference in your final tax bill, especially if they're qualified dividends.
by Anonymous | reply 5 | March 15, 2019 2:09 AM |