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posted Jun 5, 2019 11:58:40 PM

I received a 2018 form 1099B with proceeds (box1d) of $0.18. Do I need to claim thiis? I am using Turbo Tax deluxe.

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1 Best answer
Expert Alumni
Jun 5, 2019 11:58:41 PM

Yes, you will need to report it.  There is no minimum amount for reporting income to the IRS.  

Granted, declaring the $0.18 may seem nonsensical, but there may be other information that needs to be reported, so unless it is the ONLY 1099-B entry, you want to include all entries.

Please read this TurboTax FAQ for additional information about entering a 1099-B form:  Where do I enter a 1099-B?

[Edited 2/24/19 | 3:51pm]

2 Replies
Expert Alumni
Jun 5, 2019 11:58:41 PM

Yes, you will need to report it.  There is no minimum amount for reporting income to the IRS.  

Granted, declaring the $0.18 may seem nonsensical, but there may be other information that needs to be reported, so unless it is the ONLY 1099-B entry, you want to include all entries.

Please read this TurboTax FAQ for additional information about entering a 1099-B form:  Where do I enter a 1099-B?

[Edited 2/24/19 | 3:51pm]

Expert Alumni
Jun 5, 2019 11:58:44 PM

Please see updated answer.