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January 24, 2021
Question

Savings 1099-INT

  • January 24, 2021
  • 1 reply
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I received 0.08 cents of interest from my savings account and will not receive a 1099-INT from my bank. Do I need to still report this on my tax return?

1 reply

Employee
January 24, 2021

No.  Amounts less than 50 cents are rounded down to zero, as per IRS rules.