Author Topic: reporting income with no 1099-div  (Read 1099 times)

frugalnacho

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reporting income with no 1099-div
« on: February 27, 2020, 02:27:18 PM »
I have 6 brokerage accounts at vanguard that received less than $10 in dividends for 2019, so I didn't receive a 1099-DIV.  I can log in and see what my total dividends were for each account, but I can't see information like what portion are qualified or not, or how much foreign taxes I paid on those dividends.  From the accounts that I did receive a 1099 on those values seem to vary by account and holdings.

How do I accurately report when all I know is the total dividend amount?  We are only talking $33.34 worth of dividends between the 6 accounts.

MDM

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Re: reporting income with no 1099-div
« Reply #1 on: February 27, 2020, 06:17:45 PM »
Don't know about accuracy but if you call them all non-qualified dividends with no foreign tax paid it's unlikely the IRS will challenge you.  If they do, ask them to make you an offer.

Sibley

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Re: reporting income with no 1099-div
« Reply #2 on: February 27, 2020, 06:19:27 PM »
Agreed with MDM.

And maybe consolidate accounts?

frugalnacho

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Re: reporting income with no 1099-div
« Reply #3 on: February 27, 2020, 06:40:24 PM »
The reason they are separate is that I have a dedicated account for each of my nieces and nephews and I purchase ETFs for them. Its a pain in the ass to set up a custodial account, and I couldn't meet fund minimums,so I'm just holding ETFs in separate brokerage accounts.  When they come of age I'm going to gift them the contents of their respective account.  I'm constantly starting new ones because everyone is popping out babies left and right, so the 6 youngest ones don't have enough to pass the $10 dividend threshold.

mistymoney

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Re: reporting income with no 1099-div
« Reply #4 on: February 28, 2020, 09:54:40 AM »
The reason they are separate is that I have a dedicated account for each of my nieces and nephews and I purchase ETFs for them. Its a pain in the ass to set up a custodial account, and I couldn't meet fund minimums,so I'm just holding ETFs in separate brokerage accounts.  When they come of age I'm going to gift them the contents of their respective account.  I'm constantly starting new ones because everyone is popping out babies left and right, so the 6 youngest ones don't have enough to pass the $10 dividend threshold.

what an awesome aunt/uncle you are! No advice but kudos!

 

Wow, a phone plan for fifteen bucks!