I received a 1099-R for $0.31. Do I have to file it? All it's done is require me to use a more expensive product than I would otherwise need.

It was an early distribution from life insurance from a previous job. I don't want to file it, and I don't want to pay for Deluxe, which is the only way to file it. I don't need the other features Deluxe offers, it's just an additional charge that's needlessly taking away from my total refund. If it's not necessary to file it, is there any way to fix this if I've already filed my federal tax forms?

262

Employee Tax Expert

Jun 4, 2019 1:22:05 PM

I think it is safe to assume that a 1099-R for $ 0.31 is not going to impact your return in a significant manner. Keep the form for your records should the IRS inquire.

If that is the only 1099-R for that distribution, you can leave your return as is. The penalty on a 31 cent early distribution would be 3 cents.

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I received a 1099-R for $0.31. Do I have to file it? All it's done is require me to use a more expensive product than I would otherwise need.