Do I have to enter $7.68 interest even though I did not get a 1099-INT?

[bluedeb · Accepted solution]

Yes, most banks do not send a 1099-INT form when the amount is less than $10.  You do need to enter the amount even though you did not get a 1099-INT.

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

1. Open (continue) your return if it's not already open.
2. Inside TurboTax, search for 1099-INT and select the Jump to link in the search results.
3. Answer Yes to Did you receive any interest income?
   • If you see Here's the interest we have so far, select Add interest income.
4. On the following screen, select how you want to enter your 1099-INT (import or type it in yourself) and follow the on-screen instructions.

[KJS-LES]

Thanks for the reply.  I just wonder how the IRS knows about it when they don't get the equivalent 1099-INT.  😑

[ThomasM125]

The IRS will not know about the interest, but you are required to report it anyway. 

[KJS-LES]

Thanks!👌