This may be a silly question, but I want to confirm that earned bank interest reported by the bank on a 1099-INT is required to be reported on your return if it amounts to less than $1500?
My confusion lies in that the earned bank interest gets input onto a Schedule B , but the IRS website clearly outlines that a schedule B only needs to be filed for those who "had over $1,500 of taxable interest or ordinary dividends" (or other circumstances). https://www.irs.gov/forms-pubs/about-schedule-b-form-104
I was always under the impression that interest over $10 is reportable, but now I'm confused.
