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March 21, 2020
Question

If my interest payment is less than $10, do I answer Yes or No to the question about if I "received any interest payments"?

  • March 21, 2020
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March 21, 2020

You would answer yes.

 

You should be reporting all interest income even if your institution does not send you a Form 1099-INT.

 

You will enter your Interest income (which you should be able to find on your last statement of the year from your institution) as follows: 

  1. Select Income & Expenses under the Federal Tab 
  2. Scroll down to All income
  3. Select Interest on 1099-INT
  4. Select Add another 1099-INT
  5. Proceed to enter in the applicable information

 

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