Retirement tax questions

@JohnW152 

 

Are you sure?

....the Credit Union calls them dividends...but if they from the CU savings/checking accounts or CDs, they are usually reported just as "interest" on a 1099-INT form, in box 1.

 

I get a 1099-INT form from my credit union every year for my CU "dividends"....(well, because they are over $10), but even if under that amount I would report them myself as a 1099-INT  (as long as it was 50cents or higher).

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Now, if the CU happens to have actual stock offerings...beyond savings accounts...those stock dividends would be on a 1099-DIV.

 

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*