Does a 1099-R of less than $1 have to be reported in that Turbo Tax won't accept the entry for under $1?

Funds transferred between institutions left a small residual that was disbursed as a distribution and I received a 1099-R for .08.

208

Level 15

Jan 31, 2021 6:29:56 AM

Yes, this has been a problem for many people this year. Since the $0.08 rounds down to zero, simply omit this Form 1099-R.