Do I have to claim my dividends if they are less than $1.00?

[jezeskid]

I invested through CashApp. I did not receive any paperwork from them. My dividends came to $0.65.

[Bsch4477]

Technically the amount rounds to one dollar which is reportable and so should be reported. 

[TomK2023 · Accepted solution]

Technically, yes, the IRS requires you to report all taxable income, regardless of the amount.

Cash App (and other brokers) are only required by the IRS to issue a Form 1099-DIV if your total dividends for the year are $10 or more. Since you only earned $0.65, they aren't legally obligated to send you a form.

The official rule is "report everything"... tax software and the IRS generally deal in whole numbers.  Since your dividends are $0.65, they round up to $1.

The IRS typically does not pursue taxpayers for a single dollar of unreported income because the "tax" on $1 of income is essentially zero (or a few cents), making it cost more to process than it's worth.

If you want peace of mind  and to be 100% "by the book," you don't need a1099-DIV form to report the income. 

1. Open or continue your return.
2. Under Federal tab, Click on Wages & Income, then Scroll down to Dividends and Interest, an Click on Start/Revisit next to Dividends on 1099-DIV.
3. When it asks to import, select "I'll type it in myself."
4. Enter "Cash App" as the payer and "$1" (rounded up from $0.65) in Box 1a (Ordinary Dividends).