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No. You will need to report this year.
Any amount of income that is more than 49 cents is reportable and taxable.
If the amount is less than $10, the bank does not have to send you a 1099-INT, but you are required to report the income. You report it as if the bank had sent you a 1099-INT. Just put the bank name as the payer and put the interest in Box 1.
If your interest is more than $10, you will need to contact your financial institution and request the 1099-INT.
Included is a link on 1099-INT filing and tips:
No. You will need to report this year.
Any amount of income that is more than 49 cents is reportable and taxable.
If the amount is less than $10, the bank does not have to send you a 1099-INT, but you are required to report the income. You report it as if the bank had sent you a 1099-INT. Just put the bank name as the payer and put the interest in Box 1.
If your interest is more than $10, you will need to contact your financial institution and request the 1099-INT.
Included is a link on 1099-INT filing and tips:
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