Do I have to include a 1099-B in my itemized return when the amount is only 5.34?

[maglib]

Yes, you do.  You never know, you have have a huge reportable loss depending on your basis in the securities.  If you fail to report it, the IRS may assume a $0 cost basis and send you a notice with a deficiency and interest and penalties on that $5. I once had a $3.89 1099-b for someone I was going to just claim $0 cost basis and it ended up related to a stock that went belly up and the person had a over $7k loss on in. You never know.

[BobinCT]

Anyway, why would you omit it?

[kathrynhansen]

Because I was using Turbo Tax Deluxe and I had to upgrade to Premier just to enter a 1099-B.  I'm not dealing in big bucks - my ($1000) life insurance policy sold something and I ended up with 2 shares of something else.  Thank you both for your help!  I will keep the Premier and enter my $5.34.

[maglib]

the desktop version of TT deluxe supports sales if interested.  Desktop you get 1 free state download, you can prepare unlimited returns, e-file up to 5, there is an additional state e-file fee (NY is free e-file as the only exception).

[kathrynhansen]

Thank you!