Bank and Credit Union said they do not send 1099s for interest less than $10. Do I need to report this interest anyways?
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Bank and Credit Union said they do not send 1099s for interest less than $10. Do I need to report this interest anyways?

 
1 Reply
New Member

Bank and Credit Union said they do not send 1099s for interest less than $10. Do I need to report this interest anyways?

Yes, you do. The IRS says all income is taxable and you have to claim it on your income tax return.

Even though you did not receive form 1099-INT, enter the interest in Box 1, Interest Income.

  • Type 1099-int in the search box and click search.
  • Click on Jump to 1099-int.
  • Enter the amount in Box 1.
Dynamic Ads
v
Privacy Settings