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kenrondeau
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
HelenaC
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.

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