1099 on less than $10

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My bank didn't send me a 1099 because I earned less than $10 this year. Does this mean I don't have to claim my interest income on less than $10?

TurboTax Deluxe Online

AnnetteB6

Employee Tax Expert

No, it does not mean that you do not have to report the income. It only means that the bank was not required to send you the Form 1099-INT.

You will still need to enter it into your tax return as if the interest income was reported in Box 1 of Form 1099-INT. Use the following steps to go to that section of your return:

On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)
This opens a box where you can type in “interest income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)
The search results will give you an option to “Jump to interest income”
Click on the blue “Jump to interest income” link and enter your information