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Employee
January 27, 2025
Question

1099-INT

  • January 27, 2025
  • 1 reply
  • 0 views

I received a 1099-INT for a small savings account that I have with a  well-known bank for $0.03. I thought financial institutions only issue 1099's for amounts greater than $10.00.  I

Should I contact them?

Thank you.

1 reply

DoninGA
Employee
January 27, 2025

That is the bank policy, not need to contact them.  You can ignore the interest income of $0.03 on your tax return.