☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Returning Member
posted Feb 25, 2024 3:18:03 PM

I didn't get a 1099 DIV and dividends were under $10. Is the total the gross or net?

I received quarterly dividend payments. The company sent me a statement that shows fees of 12 cents, 3 cents per payment. I didn't receive a 1099 because the total is under $10 so I need to manually enter the dividends. Should I enter the gross amount of or the net amount, which is the gross amount minus 12 cents?

0 2 564
2 Replies
Level 2
Feb 25, 2024 3:33:49 PM

You'd enter the gross amount. Most bank fees are not deductible if this is a personal account, so that would be the end of the story in that case. If this is a business account, you might be able to claim a deduction for the 12 cents in the list of your business' expenses. 

Expert Alumni
Feb 25, 2024 3:33:55 PM

You should report the gross amount.  Although with such small amounts it's highly unlikely it will have any impact on your return either way.