1099-R with Small Distribution

[Be_kind]

Schwab issued me a 1099_R for 2024 with both the gross distribution and taxable amount equal to $0.02.  Box 2b is checked as taxable amount not determined. Distribution code is 7 and IRA box is checked. This distribution was due to closing the IRA.

After error checking, TurboTax is telling me the gross distribution amount must be greater than $0.50.

Should I just omit this 1099_R from my tax return? The $0.02 income amount makes no difference to my tax due amount.

Thanks.

[DoninGA]

Yes, just omit the Form 1099-R since it shows income of less than $0.50

[MindyB]

You can omit this since tax returns are rounded to the dollar.

[Be_kind]

Thanks. I will delete the 1099-R from my file.