Yes, you should report the interest. Follow these steps
- Jump to the 1099-INT and mark that you have one.
- Instead of download, select I'll type it in myself.
- Enter the issuer of the interest and the amount
- Continue
- Select none of these apply
- Continue
- Any interest income from another bank or brokerage? Select No
You do not need to report the $1 of interest from the second policy. The IRS uses $10 for when to report interest with banks so that should work here as well. My condolences on your loss.
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