- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I need to enter 1099 DIV if they are under $1500?
I have 3 different 1099 DIV - only one is greater than $1500. Others are lower amounts. Do all of them need to be entered?
Topics:
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I need to enter 1099 DIV if they are under $1500?
Of course IRS will be happy to forgo the tax on your dividend income when you explain it was just too tiny an amount to be bothered with.
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Do I need to enter 1099 DIV if they are under $1500?
Yes. Generally, you have to report all of your 1099-DIV amounts, if you are required to file an income tax return. You have to report all worldwide income.
The $1,500 reference: If you are a dependent and had over $1,500 of ordinary dividends, you must file Schedule B (Form 1040A or 1040), Interest and Ordinary Dividends. It
See the screenshots below for filing requirements.
Still have questions?
Make a post
Or browse the Forums