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February 9, 2025
Question

When entering my 1099-R, do I need to round $0.09 down to $0.00?

  • February 9, 2025
  • 1 reply
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Box 1 and 2a both say $0.09 and box 4 says 0.01 but it will not accept the $0.09 in box 1

    1 reply

    February 9, 2025

    Yes, you should round to zero. ‌You don't need to enter a 1099-R at all if all of the entries round to zero. ‌There's nothing to report or be taxed on, since federal tax returns are rounded to the dollar.