My husband has 4 IRAs with a local bank. Each has earned different amounts of interest. We were told by a bank employee that if the interest was less than $10 we did not have to report it. I thought if the TOTAL paid by the bank was more than $10, we had to report it. The total is around $40 but if we don't add them up, we only have around $26. What is correct? We do not want to under-report, but I don't want to pay more in income.
