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Entering small Interest amounts on 1099 INT

Hi,

If I enter a small amount on the 1099 INT entry for box one will it cause an issue with the Turbo tax software??

if the interest is 0.32, should i just not enter it?   One was for $0.02 and that was a download directly from a financial institution.   If i leave these in, will it cause the product to give me an error??

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3 Replies

Entering small Interest amounts on 1099 INT

Discussed in your other post:

 

If interest income is 0.02 or 2 cents, do i have to report that? (intuit.com)

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Entering small Interest amounts on 1099 INT

Well, i will leave it as is and see if it causes an error. If an error I will just remove the 2 entries that are under $0.50 then.  I called in and the TT cust support didnt know. They had no experience with that.

Entering small Interest amounts on 1099 INT

I didnt need to do rounding. It does it for you.  Worked fine.

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