The IRS requires you to enter all income: “Your worldwide income is subject to U.S. income tax, regardless of where you reside.”
Eighty-six cents ($0.86) would be rounded up to $1. When rounding off numbers, drop amounts under 50 cents and increase amounts from 50 to 99 cents to the next dollar. For example, $1.39 becomes $1 and $2.50 becomes $3.
You don’t need a 1099-INT to enter interest income. Enter the name of your bank and the amount.
- Type interest in Search in the upper right
- Click Jump to interest
- Select Add another 1099-INT
- Hit Continue on Get ready to be impressed
- On Let's import your tax info click Change how I enter my form
- On How do you want to add your 1099‑INT? select Type it in myself
- Enter the name of your bank and fill in the amounts that match the boxes on your Form 1099-INT
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