Tax Docs

Just a note regarding 1099 forms.

If your interest on a bank account is less than $10, you will not receive a 1099-INT.  That doesn't mean you do not have to claim as income the interest paid on your savings account.  It just means that the IRS will not receive a specific report of interest payments of less than $10 attached to your social security number.

If your dividend or capital gains distributions from a mutual fund or brokerage account amounted to less than $10 for the year, a Form 1099-DIV will not be generated for that fund.

How I wish interest rates were such that our $ was making $.  But the truth is interest rates are as close to Zero as anyone can remember.  In fact much of our mind set in the last 5 years has become safety.  Keeping what we have safe from risk.

The sad truth, as the government is printing $ like crazy, is that the safe $ we have will be worth less and less.  Inflation is coming.  I am not the only voice saying this.  Many smart economists are warning the same.

til later