I have 1099 MISC and line 2 shows a.07 cent royalties for an investment in San Juan Basin Royalty Trust. Do I need to put that on the form in Turbo tax? rounds down to $0

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I would round to $0 and put with your tax records as it does not need to be reported.

do I need to file New Mexico state tax form for the 7 cent royalty?

No same reason due to rounding it is same as getting $0 and no Federal or State return is necessary.for this amount.

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