Question

Should I report my income of $2.39 in dividends from Robinhood? I did not receive a 1099 DIV, and TurboTax asks to enter information from 1099 DIV.

Forum|Forum|6 years ago
March 28, 2020
1 reply
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When I entered my dividend income of $2.39, I saw my refund amount reduce by $6 and I know that can't be right.

TurboTax Live Basic Online

You have to report the dividends.

It is possible that your tax would increase by $6. The tax tables give tax per tranches of $50 of taxable income. So, when $2 of dividends push your taxable income to the next $50 tranche and your tax rate is 12%, your tax is increased by $50 x 12%=$6.

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