1099 on less than $10

[smithclifford04]

My bank didn't send me a 1099 because I earned less than $10 this year. Does this mean I don't have to claim my interest income on less than $10?

[AnnetteB]

No, it does not mean that you do not have to report the income.  It only means that the bank was not required to send you the Form 1099-INT.

You will still need to enter it into your tax return as if the interest income was reported in Box 1 of Form 1099-INT.  Use the following steps to go to that section of your return:

• On the top row of the TurboTax online screen, click on Search (or for CD/downloaded TurboTax locate the search box in the upper right corner)

• This opens a box where you can type in “interest income” (be sure to enter exactly as shown here) and click the magnifying glass (or for CD/downloaded TurboTax, click Find)

• The search results will give you an option to “Jump to interest income”

• Click on the blue “Jump to interest income” link and enter your information