Yes, you can disregard it because it is considered De minimus. However, that does not mean that the IRS will not discover it and send out a notice for the $16. Just keep records to show that you are aware of the transaction and decided it cost more to include it in taxes.
You can also be creative and show the $16.00 as other income with an explanation. A single transaction for such a small amount should not cause a problem.
Here is how to enter Other Income:
- Click on Federal > Wages & Income.
- Scroll down to the Less Common Income section.
- Click on the Start/Revisit box next to Miscellaneous Income.
- Scroll to Other Reportable Income Click Start/Revisit.
- Enter the Description and amount.
@Justjoan1
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