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Alexio_Xela
Level 1

Should I report income that, due to de minimis rules, was not reported to the IRS?

For example, I earned less than $10 of bank income, so my bank did not provide me (or the IRS) a 1099-INT. Fidelity provided me a 1099-DIV, but it indicated that "Due to de minimis rules this form is not filed with the IRS."

 

Should I include either of these forms of income on TurboTax?

1 Best answer

Accepted Solutions
Bsch4477
Level 15

Should I report income that, due to de minimis rules, was not reported to the IRS?

Yes. All income has to be reported. 

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2 Replies
Bsch4477
Level 15

Should I report income that, due to de minimis rules, was not reported to the IRS?

Yes. All income has to be reported. 

Alexio_Xela
Level 1

Should I report income that, due to de minimis rules, was not reported to the IRS?

Great, that's what I've done historically. Thank you! It's just the first year I saw Fidelity call my income de minimis so I wanted to confirm.

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