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What reporting requirements apply to this distribution

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Question - James Williams is the sole shareholder of Crystal Ball Enterprises, Inc. He received a $100 dividend distribution from his corporation in the current year. Current earnings of Crystal Ball were $1,000. What reporting requirements apply to this distribution?

No reporting requirements apply because the distribution is not taxable.

No reporting requirements apply because the distribution is less than $600.

Form 1099-MISC should be filed to report miscellaneous income.

Form 1099-DIV should be filed because the distribution is a dividend and is at least $10.

Reference no: EM131938893

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