When entering the information from my 1099-R, I am receiving an error message because the gross distribution for box 1 is less than $1. How should I proceed?

[dmertz]

If the gross distribution was less than 50 cents, omit the Form 1099-R from your tax return since amounts less than 50 cents round to $0.

[bjfitzpatrick]

Thank you for this information. The amount is .$91. In this case, should I round up to $1.00?

[dmertz]

Entering $1 is probably a reasonable alternative, but simply omitting the Form 1099-R would likely be ignored by the IRS as a de minimis error.

[macuser_22]

TurboTax should automatically round up to $1 on line 4 or 5 on the 1040 form.

[dmertz]

This is a bug in the online version of TurboTax where it does not let you enter amounts less than $1.00.  It should instead be disallowing amounts less than $0.50 (or even allowing any amount greater than $0.00).

[ColeenD3]

It depends how much less. If it is less than $.50, you would round down to zero and not include it. If it is more than $.50, round up to $1.