If your bank hasn't issued an interest tax document but you know you've received a small amount of interest (about a dollar) should you still report it?
To be clear, the interest shows up on the year end tax statement. But again, the bank hasn't created a form to report the interest.
01636
1 Best answer
KittyM
Level 2
Jun 1, 2019 10:40:00 AM
Banks today generally will not send a tax document for amounts under $10. That said, the law and the IRS expect you to report all your income.
Please don't shoot the messenger.
1 Replies
KittyM
Level 2
Jun 1, 2019 10:40:00 AM
Banks today generally will not send a tax document for amounts under $10. That said, the law and the IRS expect you to report all your income.