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If I received a dividend from a credit union not listed for $8.18. Do I need to report this on my tax return?

 
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2 Replies
LindaS5247
Expert Alumni

If I received a dividend from a credit union not listed for $8.18. Do I need to report this on my tax return?

Yes, you still need to report your income, no matter the amount. Your financial institution isn't required to send you a 1099-INT, if it is for $10 or less, so you might not have one, but you are still required to report it on your tax return.

 

To report your interest income from your credit union without a Form 1099-INT:

  1. Open your return.
  2. Select "Federal Taxes".
  3. Select "Wages & Income".
  4. Then select "I'll Choose What to Work On".
  5. Select "Start" 
  6. Answer "Yes" to the question "Did You Receive and Interest Income?"
  7. Select "I'll Type it in Myself"

Then Select "Continue".


Click here for additional information on entering your Form 1099-INT, including if you are using the Desktop version.

 

Please feel free to come back to TurboTax Community with additional information or questions or click here for help in contacting Turbo Tax Support. 

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If I received a dividend from a credit union not listed for $8.18. Do I need to report this on my tax return?

By the way, "dividends" from a Credit Union are really interest.  They just call them Dividends.  You enter them as interest.  You get a 1099INT for them.  

Enter interest received like a 1099-Int under

Federal Taxes tab (Personal for Home & Business)

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

Put the interest amount in box 1

 

 

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