Hi,
My daughter received a consolidated 1099 for her investment. Her 1099-DIV is >$100, so obviously she is reporting this on her taxes. The 1099-B is zero. However, in the Other Income item of the 1099-MISC, it lists $0.01. I assume she does not need to report this, correct? Is there guidance from the IRS that says this? Is it just that it rounds to zero? BTW, she's using online software that won't allow her to enter 1099-MISC income. She'd have to purchase TT Deluxe if she has to report the 1 penny.
Thank you.
