When opening Robinhood individual taxable brokerage account, I received a $6 bonus stock. The stock is not sold yet. Later I received another $5 cash reward. Looking at the consolidated 1099 form, the $5 cash reward is listed in 1099-MISC, but the $6 bonus stock is missing. Is this a mistake from them? Do I need to contact them to correct the form? Or when filling tax return, do I just change the total to $11 or report another 1099-MISC of $6? Thanks
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You can report it as "Other Income" as follows:
1. From the Federal menu in TurboTax find Wages and Income
2. Find Less Common Income
3. Choose Miscellaneous Income, 1099-A, 1099-C
4. Choose Other Reportable Income
5. Enter a description of the income and the amount
Thanks for the reply. So I don't need to ask Robinhood to correct it?
In that case when adding 1099-MISC, should I enter them in one 1099-MISC (the number won't match IRS' record then) or enter them in two separate 1099-MISC?
If you report Form 1099-MISC as Other Income, you can add the two amounts together. There's no need for a revised 1099. The IRS will check to be sure you reported at least as much income as was reported on the 1099, and you will report more.
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