I received a 1099b for $8.00 which resulted from the sale of what would have been a fractional share since they did not wish to deal with them. Do I need to declare this small amount on my tax return, or can I ignore it in the same manner that you can ignore dividends that are less than $10.00?
Well, you are not supposed to ignore income less than $10. It’s just that you won’t get a 1099 form for it. So you are supposed to report that income. Whether it changes your tax liability or whether the IRS will adjust your return because you didn’t report it are separate issues.
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