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posted Jan 13, 2024 9:44:22 AM

Do I report unclaimed funds received on my federal tax return?

I received a small amount (less than $100) in unclaimed funds from NY State.  Do I need to report the amount on my federal taxes?

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1 Replies
Level 15
Jan 15, 2024 8:47:28 AM

No, you don't -- the amount recovered, itself, wouldn't be taxable, but any interest that might have accrued on it would need to be reported.

 

If the amount you received includes interest, and you didn't receive a Form 1099 reflecting the amount of interest, the TurboTax Help article What if I didn't get Form 1099-INT from my bank? may be helpful to you.