Do I have to report interst gained in foreign banks even if it is less than 10 $ ?

[jerry2000 · Accepted solution]

Any income that is more than 49 cents is reportable and taxable.

[luishm6]

I see. So, if the total interest gained is less than 49 cents I don't need to report it right?

[jerry2000]

If the interest gained is less than 50 cents, it does not get reported. The IRS allows rounding. 49 cents rounds to $0. 50 cents or more rounds to the next dollar and is reported.