1099-MISC cents

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?

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3 Replies

gibalange,

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

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

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

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