Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

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Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

No. Not for an amount for less than $0.50

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Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

No. Not for an amount for less than $0.50

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Thank you!

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

When an IRA is closed a 1099-R has to be issued on it. Even if the balance was zero. But since you can't issue a 1099-R with zeros on it, they report 1 cent. You don't need to bother with this on your tax return.

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Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

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Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

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Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

Hello in 2017 I had to close an IRA that only had $0.01 in it. So less than $1 dollar was distributed to me. I was issued a 1099-R. Do I have to amend my return?

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