$0.00 on 1099-INT


M

martin lynch

One of my accounts gave me interest of 29 cents last year. The bank
still sent me a 1099-DIV with 29 cents, with the notice that it was
also reported to the IRS. Do I still put this in my tax statement,
even though it rounds down to $0.00? The tax software is a little
confused that I'm reporting a 1099-DIV even though it's a $0.00 amount.
 
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M

Mark Bole

martin said:
One of my accounts gave me interest of 29 cents last year. The bank
still sent me a 1099-DIV with 29 cents, with the notice that it was
also reported to the IRS. Do I still put this in my tax statement,
even though it rounds down to $0.00? The tax software is a little
confused that I'm reporting a 1099-DIV even though it's a $0.00 amount.

With all due respect, this is a de minimis question. Please take your
best shot, and let the group know if you get audited in the next three
years or not.

BTW, I got a 1099-INT from a major bank for $0.01 in box 1.

-Mark Bole
 
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D

D. Stussy

martin lynch said:
One of my accounts gave me interest of 29 cents last year. The bank
still sent me a 1099-DIV with 29 cents, with the notice that it was
also reported to the IRS. Do I still put this in my tax statement,
even though it rounds down to $0.00? The tax software is a little
confused that I'm reporting a 1099-DIV even though it's a $0.00 amount.
Since they sent the document, I'd report $0.
 

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