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johnhed1
New Member

The amount of 5.22 was sent to me in 2018 to close out account. with vanguard. my question is do I have to report the five dollars and twenty two cent on taxes?

 
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2 Replies
Ashby
New Member

The amount of 5.22 was sent to me in 2018 to close out account. with vanguard. my question is do I have to report the five dollars and twenty two cent on taxes?

This amount could have been money you deposited. If it's income, you should report.

The amount of 5.22 was sent to me in 2018 to close out account. with vanguard. my question is do I have to report the five dollars and twenty two cent on taxes?

Did Vanguard send you 1099 forms for your account activity for 2018?  Or can you log on and print 1099s out?  (Log into Vanguard web site / My Accounts  / Tax Center and see if there is a 1099 for 2018.)  If you plug that info into TurboTax you should see what impact that has on your taxes.  Unless someone advises differently I don't see why you wouldn't report it, if that is taxable income.  (Depending your particular situation that may or may not have any effect on what you owe.)  

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