$2 interest

Is an amended tax return necessary if savings interest was $2?

posted

That's a great question. For intrest the IRS looks for $10. or more to be reported as that may cause a change in the amount of tax you may owe. The 1099-INT reports this information to the IRS. For $2. it would not change the tax calculated on your return, so no amendment would be necessary.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"