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February 2, 2024
Question

Do I need to report earned YTD interest of $0.43 on a savings account?

  • February 2, 2024
  • 1 reply
  • 0 views
The bank did not/will not issue a form 1099-INT because the interest earned is negligible and the balance is under $10.

1 reply

DoninGA
Employee
February 2, 2024

Since the interest received is less than $0.50 there is no need to report the interest on your tax return.