My bank doesn't issue 1099-INT because interest is only few dollars. Can I neglect in my tax return or should I do anything?

Forum|Forum|4 years ago
February 13, 2022
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SteamTrain

Level 15

@mabushira

Anything 50 cents or greater is supposed to be entered into your tax return.

Enter those few $$ as if you did receive a 1099-INT from that bank and put it in your tax return.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

LenaH

Community Manager

The banks will only send you a 2021 1099-INT if you were paid more than $10 in interest. However, you are required to report all interest received during the year.

You can follow these steps in TurboTax to enter interest received:

Open your tax return in TurboTax.
Search for 1099-INT with the magnifying glass tool on the top of the page.
Select the Jump to 1099-INT in the search results to go directly to the section to report your interest income.
Enter the bank name and amount of interest.

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