Do I report $.41 mortgage escrow interest under 1099-INT TurboTax even though I did not earn $10 interest with no 1099-INT form from the bank institution?
The IRS rounds amounts so your amount would be zero so doesn’t have to be reported.
Yes, go ahead and enter it. Don't try to import it, just click ''I'll type it myself''. The entry only requires the name of the bank or payer and the amount, so it will take just a few seconds.
Hi thanks, I think I will report escrow interest even though under $.50 or under 50 cents and I do not want to be audited it even though it is under .50 or $1 and I know bank accounts or escrow accounts do not provide a 1099INT under $10.