topic Will I be fined or get in big trouble for missing savings account intrest? in Get your taxes done using TurboTax

Will I be fined or get in big trouble for missing savings account intrest?

ms1209- — Mon, 23 Feb 2026 13:26:04 GMT

I have a 360 savings account through capital one and no one told me I had to put the interest on my tax return. Will I get in trouble for not putting it there? Will I get fined? It was only like maybe $5 over a year

Re: Will I be fined or get in big trouble for missing savings account intrest?

MaryK4 — Sat, 04 Feb 2023 04:20:50 GMT

You may want to try to prepare an amended return (How to Correct Federal Tax Returns - TurboTax) to see if you would owe any additional tax- if it is that small amount it may not change your taxes. It is better to be safe than sorry with the IRS.

Re: Will I be fined or get in big trouble for missing savings account intrest?

ms1209- — Sat, 04 Feb 2023 04:30:44 GMT

So, if I read that right it goes to the federal return? If so my federal return already got accepted so I could do the form if I was super worried about it or just to be safe?

Re: Will I be fined or get in big trouble for missing savings account intrest?

MaryK4 — Sat, 04 Feb 2023 04:41:53 GMT

You could enter it and if it does not change your tax you do NOT have to file it. @ms1209-

Re: Will I be fined or get in big trouble for missing savings account intrest?

magicalmark — Sat, 04 Feb 2023 05:14:21 GMT

If you earned less then $10 in interest, from all of your combined accounts, at an individual institution you will not receive a 1099 and you do not need to report it.