Do I need to report interest income of less than $2.00?

posted

Yes. Any income of more than $.49 will need to be included on your return. The IRS says US Citizens and Residents must report ALL income from ALL sources when they have a filing requirement. If it is less than $.50 then it does not need to be included as it would round down to $0. Anything that is $.50 (which would round up to $1) would need to be reported.

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