We purchased a few shares of our employer's stock. They are based out of France. We received a dividend of under $50, but have not received any type of tax form. The dividend was sent via wire transfer into our bank account.
Is this something that needs to be added to our taxes? If so, how do we enter it without having any type of documentation/form from the company?
Thank you!
Yes, you are supposed to report the income even if you don't get a form showing it. Since you aren't going to get a US tax form showing this amount, you can report it as Miscellaneous income.
Here's how to do that in TurboTax:
It depends on whether you sold the stock or not. If you still own it, you would not report it. It also does not a FBAR reporting requirement since the value is less than $10,000.
Yes, you are supposed to report the income even if you don't get a form showing it. Since you aren't going to get a US tax form showing this amount, you can report it as Miscellaneous income.
Here's how to do that in TurboTax:
THANK YOU!
Are there any other sections/forms I need to complete regarding these stocks? The current market value is just over $1000, so again we are talking a very small value.
I just want to make sure I'm entering all necessary information!
I really appreciate your help!
It depends on whether you sold the stock or not. If you still own it, you would not report it. It also does not a FBAR reporting requirement since the value is less than $10,000.