Question
Reporting interest under $1
My broker issued me a 1099-DIV and 1099-B and 1099-INT.
Report everything on 1099-DIV and 1099-B is no problem.
But as for interest, I had only 9 cents . If I enter it, will it round down to zero and i cannot show it? If I can not show it is it ok?
I called the broker they said this 1099-INT is for my information only, in a consolidated tax form since I had those other 1099s and the 1099-INT doesn't get reported to IRS because it is below $10.. Would it be correct? (because on the 1099-INT there is a wording that it is a tax document which is being supplied to IRS but it is a generic wording may be?) . I mean i have no problem of reporting 9 cents interest, I only want to know what happens if software doesn't allow it.
