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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 503/14/2019

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

by Anonymousreply 103/13/2019

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

by Anonymousreply 203/13/2019

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 303/13/2019

R2 is right. FBI is on it.

by Anonymousreply 403/13/2019

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 503/14/2019
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