Open Question
if i have a dividend you recieved and it is less then 10 dollars do you need to
report it on your 1099? and also i had money from bonds and right now im working
under the table so i used the money i got from my savings bonds from when i was
a kid to buy some stocks do i need to get a job thats not under the table when i
report my taxes or will it be fine? im going to get a job when i go to college
but im just wondering just in case
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Your brokerage should send you a 1099DIV for all reportable dividends. I think
you should report the $ you've been earning and then you can match it into a
Roth. Unless you're pulling down very large sums, the taxes shouldn't be too
bad. Set aside 20% for taxes, though with the EIC even that could get wiped out
if your income is low. Then you can clear a hefty sum in your IRA tax free in
the future. The roth shouldn't affect your financial aid, but I don't know
about the earnings, so check with the financial aid office first of course.
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I (((ENVY))) all of you Young Bloods!!!
For the fun of it...take all your trades to your accountant in a Cracker Jack
box..:)
What a great time a place to be entering the market..
Stay on your toes and keep smart..
Yes...get that other very expensive piece of paper(Higher Ed.).
Your Future will be bright..
About your Q....
You got me hanging on that one..
Good Luck to you..Franky
Susan
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