topic Re: 1099-MISC cents in Get your taxes done using TurboTax

1099-MISC cents

gibalange — Sat, 11 Mar 2023 23:21:39 GMT

I have $0.21 listed on line 3 of my 1099-MISC. Do I need to report this? What is the minimum amount required to report?

hbl3973 — Sat, 11 Mar 2023 23:26:45 GMT

gibalange,

No, don't report anything under 50 cents. The IRS requires all commercial income tax packages to round to the nearest dollar.

gibalange — Sat, 11 Mar 2023 23:29:10 GMT

Thanks. That is my only 1099-MISC value that's not $0.00. So I can delete this document and proceed with filing?

hbl3973 — Sat, 11 Mar 2023 23:50:43 GMT

Yes, delete it. At the AARP Tax-Aide volunteer tax preparation, we do not even enter those.