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gibalange
Level 2
March 11, 2023
Question

1099-MISC cents

  • March 11, 2023
  • 1 reply
  • 8 views

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?

    1 reply

    hbl3973
    Alumni - Champ
    hbl3973Alumni - Champ
    Alumni - Champ
    March 11, 2023

    gibalange,

     

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

      G
      gibalangeAuthor
      Level 2
      March 11, 2023

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

      hbl3973
      Alumni - Champ
      hbl3973Alumni - Champ
      Alumni - Champ
      March 11, 2023

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

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