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Interest Received
I don't know if this is a glitch or what but I came across something that I found very odd and slightly concerning. I was set to receive a fed refund of $827 but had forgotten to include the small amount of interest I got from a checking account, a whopping $2.51. So being the good guy I opted to declare it and the moment I did my refund dropped to $816. Whole loss of $11 just for a measly $2.51, huh?
So I did some playing around and found that the threshold is $.50 (50 cents). If I drop the interest paid to .49 I get back my $11 to $827.
I don't make a lot of money, middle class guy who makes less than 70k and my taxes are not complicated and I don't have any extra income coming in that would take me to a some crazy higher bracket.
‎April 8, 2023
11:46 AM