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?

posted

Connect with an expert

3 Replies

1099-MISC cents

gibalange,

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

1099-MISC cents

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

1099-MISC cents

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

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post