Question

Am I required to report interest received without 1099-INT due to amount was less than $10?

Forum|Forum|8 years ago
April 8, 2018
1 reply
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I have several checking accounts in different banks? Some bank did not send me the 1099-INT due to interest received was less than $10. Is it still required for me to report those amount of interest received less than $10?

Income

L

linear

Employee

Yes, you are required to report all interest income, even if less than $10.

D

dyons

Employee

Just following up on the next step to this question, TurboTax does not seem to have a way to report such interest for which a 1099-INT is not provided. Is it OK to proceed with the interview for 1099 income and pretend that the 1099 was received by just providing the bank name and the interest amount (obtained from the ban statement) in "Box 1"?

Thanks.