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hanunian
New Member

Where do I report short term capital gains under $10.00 (so too small to generate a 1099)? Dividend income was also under $10.00 so no 1099 for this account.

Money market fund transactions in brokerage account generated very small amount (under $10.00) of incidental short term capital gains.  It is taxable but I do not see where to report it in TurboTax.
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4 Replies

Where do I report short term capital gains under $10.00 (so too small to generate a 1099)? Dividend income was also under $10.00 so no 1099 for this account.

Enter your dividends and capital gains on the 1099-DIV screen.

 

  1. Type dividends in Search in the top right
  2. Click Jump to dividends
  3. Say YES to Did you receive any dividend income?
  4. Continue past Get ready to be impressed
  5. On Let’s import your tax info, click Change how I enter my form
  6. Click Add another 1099-DIV
  7. On the screen Let's import your tax info, go to the bottom and select Change how I enter my form
  8. On How do you want to add your 1099DIV? choose Type it in myself
  9. On Let’s get the info from your 1099-DIV enter your dividends and capital gains if applicable

1099-DIV1099-DIV

AamilD
Expert Alumni

Where do I report short term capital gains under $10.00 (so too small to generate a 1099)? Dividend income was also under $10.00 so no 1099 for this account.

To report dividends, please follow the instructions below:

 

Form 1099-DIV reports dividend income you received from your investments. To enter this in TurboTax Online:

  1. Sign in to TurboTax and open a section of your return.
  2. Search for 1099-DIV and select the Jump to link in your search results.
  3. Answer Yes to Did you receive any dividend income?
  4. Choose your bank or brokerage from the list to import your 1099-DIV and select Continue. If you'd rather manually enter your 1099-DIV, select Change how I enter my form, then Type it in myself.
  5. Follow the on-screen instructions to enter your 1099-DIV.

Since your dividends are less then $10, when you reach to the part where it says "Type it in myself", you will enter the payer name and Box 1a, Total Ordinary Dividends

 

For more information on how to input dividends, please visit 1099-DIV Input Instructions

 

 

Short term capital gains will be reported on Form 1099-B. Please visit 1099-B Input Instructions for more information. 

DALTONL1
New Member

Where do I report short term capital gains under $10.00 (so too small to generate a 1099)? Dividend income was also under $10.00 so no 1099 for this account.

THIS SOLUTION WORKED IN 2023 SOFTWARE.  THE 2024 SOFTWARE WILL NOT ACCEPT THE INFORMATION WITHOUT A FEIN NUMBER.

AmyC
Expert Alumni

Where do I report short term capital gains under $10.00 (so too small to generate a 1099)? Dividend income was also under $10.00 so no 1099 for this account.

You can use a generic number 99-9999900

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