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D
dharris9
June 1, 2019
Question

I did not receive a 1099 int but received a small amount of interest is this taxable

  • June 1, 2019
  • 1 reply
  • 0 views
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1 reply

N
NicoleU
Employee
June 1, 2019

Any amount of income that is more than 49 cents is reportable and taxable.

If the amount is less than $10, the bank does not have to send you a 1099-INT, but you are required to report the income. You report it as if the bank had sent you a 1099-INT.

In TurboTax, you will put the bank name as the payer and put the interest in Box 1.

  • Click Federal Taxes
  • Click Wages & Income
  • Interest and Dividends, click Show more
  • Interest on 1099-INT, click Start





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