Should I report $40 in Dividends?

[upperhandrobert]

I invested in dividends last year and I made $40 overall. I read somewhere that it's not worth reporting that amount, and I'm just wondering if it's okay to submit my tax return like that. I still haven't received a dividend tax form from 2020 in M1 Finance.

[Mike9241]

if this is your only income for 2020, your income is below the filing threshold. 

[upperhandrobert]

My income is around $13,000 for the year and so the $40 seems too unimportant, but I want to make sure it is ok to not report them when I file:)

[Mike9241]

no reportable income is too small. that $40 could push your income into the next higher tax amount. report it. 

[JohnW152]

Based on your income, you may be required to file a return  And, if you're required to file a tax return, then you're required to report your dividends, no matter how small. 

Please see the TurboTax Help article Do I need to file a federal return this year? to see if you need to file.