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jwrbrts
Jan 23, 2007, 03:10 PM
I purchased mutual funds in December 06 from T-Rowe Price and received 1099-DIV tax forms recently. I have small amounts of money reflected in the ordinary dividends and capital gain distributions boxes. Is it necessary to report these small amounts on my taxes? Thanks, John

AtlantaTaxExpert
Jan 23, 2007, 10:09 PM
John:

Yes, please report them. The IRS computer may kick out the return for review by a human auditor if these monies are not reported. Who knows what happens then?

Why risk it?

jwrbrts
Jan 24, 2007, 02:06 AM
Thanks AtlantaTaxExpert

AtlantaTaxExpert
Jan 24, 2007, 11:13 AM
Glad to help!