Yes, you should report anything more than $1, unless it is in a retirement account.
Generally, you will get a Form K-1 from an ETF, but if you definitely did not get a tax form from this investment, you can just report the amount of income as other income.
Here is how to enter it as other taxable income:
- Select Federal on the left side menu.
- Select Income and Expenses toward upper left.
- Expand/ scroll down the list and find the section called, Less Common Income.
- Scroll all the way down and select Miscellaneous Income, 1099-A, 1099-C.
- Select Other income not already reported on a Form W-2 or Form 1099
- Answer the first question Yes.
- Click Continue until you get to the page titled, Any Other Earned Income? Answer Yes and click Continue.
- Select Other and click Continue.
- Enter a description and amount on this page, click Continue.
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