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gibalange
Level 2
Mar 11, 2023 11:21 PM UTC
Question

1099-MISC cents

I have $0.21 listed on line 3 of my 1099-MISC. Do I need to report this? What is the minimum amount required to report?

    3 replies

    hbl3973
    Alumni - Champ
    hbl3973Alumni - Champ
    Alumni - Champ
    Mar 11, 2023 11:26 PM UTC

    gibalange,

     

    No, don't report anything under 50 cents.  The IRS requires all commercial income tax packages to round to the nearest dollar.

      gibalangeAuthor
      Level 2
      Mar 11, 2023 11:29 PM UTC

      Thanks. That is my only 1099-MISC value that's not $0.00. So I can delete this document and proceed with filing?

      hbl3973
      Alumni - Champ
      hbl3973Alumni - Champ
      Alumni - Champ
      Mar 11, 2023 11:50 PM UTC

      Yes, delete it.  At the AARP Tax-Aide volunteer tax preparation, we do not even enter those.

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