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Level 1
June 7, 2019
Solved

Interest income without 1099int

  • June 7, 2019
  • 1 reply
  • 19 views
I don't have a BECU 1099-int form.  Do I need one and, if so, how?
Best answer by

It depends. 1099-INT Forms are not required to be issued if the interest earned is less than $10.00. If your interest income is less than this amount, you can probably confirm the amount of interest earned by reviewing a year end bank statement. If you did have interest income of at least $10.00, then you can contact BECU to get a copy of that form and should wait to receive that form so that you can report it correctly on your tax return.

1 reply

Answer
June 7, 2019

It depends. 1099-INT Forms are not required to be issued if the interest earned is less than $10.00. If your interest income is less than this amount, you can probably confirm the amount of interest earned by reviewing a year end bank statement. If you did have interest income of at least $10.00, then you can contact BECU to get a copy of that form and should wait to receive that form so that you can report it correctly on your tax return.

Level 2
January 31, 2021

If my interest income from a bank is only $1 or $2 do I have to report it?

Level 2
March 2, 2021

I have $1 in interest from my business bank account. Does this need to be reported? If so, is it under Other Income found under Business Income?