Let me know if you have any question.
Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases. Nothing contained in this reply was intended or written to be used, can be used by any taxpayer, or may be relied upon or used by any taxpayer for the purposes of avoiding penalties that may be imposed on the taxpayer under the Internal Revenue Code of 1986, as amended.
Thank you for your help!
I received 2 forms
--a Client Statement Forms 1099 and 2009 Year End Statement
--and a Reserved Client Statement Forms 1099 and 2009 Year End Statement
Are they from the same payer? Are they reported under you SS# XXXXX are both reporting a total interest amount of $350?
I'm pretty sure that it is under my SS.
The total from the two is $379.
If this is the only income that it is not taxable and you do not have to file a tax return. Distribution from trust of $3000 is not taxable as it is not income but a distribution from principal. Normally trust would issue a K-1 if anything would be taxable on your personal tax return.