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J
jnicholls210
May 2, 2021
Question

Is there a minimum about of interest income that has to be reported?

  • May 2, 2021
  • 1 reply
  • 0 views
I didn't get a 1099 INT from my bank on my interest bearing accounts, and I'm wondering if there is a minimum amount of interest needed to produce a 1099 INT

1 reply

A
Anonymous_
Employee
May 2, 2021
@jnicholls210 wrote:
......I'm wondering if there is a minimum amount of interest needed to produce a 1099 INT

Generally, it is $10 or more.

 

See https://www.irs.gov/instructions/i1099int#idm140190795224752

S
SweetieJean
Employee
May 2, 2021

But anything over 50 cents must be reported on your tax return, even if you did not get a 1099-INT.

    A
    Anonymous_
    Employee
    May 2, 2021
    @SweetieJean wrote:

    But anything over 50 cents must be reported on your tax return, even if you did not get a 1099-INT.

    That is true. Further, and technically, anything over 49 cents must be reported since 50 cents rounds up.

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