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May 4, 2021
Question

My bank does not provide a 1099-INT document for any interest earned on a savings account that is less than $10. Does the interest still need to be reported?

  • May 4, 2021
  • 1 reply
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1 reply

VolvoGirl
Employee
May 4, 2021

Yes You must report all your income no matter how small, even $1 of interest that you don't get a 1099 for.  Enter interest received like a 1099-Int under

Federal Taxes tab

Wages & Income

Interest and Dividends

Interest on 1099INT - Click the Start or Update button

 

Put the interest amount in box 1