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J
j0c00l2017
Level 1
February 3, 2024
Question

Is there a minimum limit for gross distribution on form 1099-R?

  • February 3, 2024
  • 1 reply
  • 0 views
I'm typing in my gross distribution amount as shown on my form 1099-R, but am being prompted to Enter gross distribution in Box 1

1 reply

DoninGA
Level 15
DoninGALevel 15
Level 15
February 3, 2024

Yes, the amount in box 1 has to be $0.50 or more.  If it is not then the Form 1099-R does not need to be reported on your tax return.

M
mgmartins
Level 2
February 18, 2024

Hi DoninGA,

My gross distribution is $0.70. Turbotax refuses to go forward. Testing some values, it seems the minimum is $1. How to proceed in this case? Report $1?

DawnC
DawnC
Level 15
February 18, 2024

Yes, report $1.                 70 cent should be rounded up to one dollar.   @mgmartins 

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