Hello and thank you for being a DL contributor. We are changing the login scheme for contributors for simpler login and to better support using multiple devices. Please click here to update your account with a username and password.

Hello. Some features on this site require registration. Please click here to register for free.

Hello and thank you for registering. Please complete the process by verifying your email address. If you can't find the email you can resend it here.

Hello. Some features on this site require a subscription. Please click here to get full access and no ads for $1.99 or less per month.

Tax Question

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?

by Anonymousreply 5March 15, 2019 2:09 AM

I believe that less than $10 doesn't get reported to the authorities.

by Anonymousreply 1March 13, 2019 10:50 PM

You're pretty much going to jail. Pre-lube now.

by Anonymousreply 2March 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 Anonymousreply 3March 13, 2019 10:53 PM

R2 is right. FBI is on it.

by Anonymousreply 4March 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 Anonymousreply 5March 15, 2019 2:09 AM
Loading
Need more help? Click Here.

Yes indeed, we too use "cookies." Take a look at our privacy/terms or if you just want to see the damn site without all this bureaucratic nonsense, click ACCEPT. Otherwise, you'll just have to find some other site for your pointless bitchery needs.

×

Become a contributor - post when you want with no ads!