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Hello, I received less than $10 in interest income and I didn't get a 1099-INT.Where can I input the amount of interest manually if I don't have this form? Thanks!

 
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2 Replies
RayW7
Expert Alumni

Hello, I received less than $10 in interest income and I didn't get a 1099-INT.Where can I input the amount of interest manually if I don't have this form? Thanks!

The Financial Institution  is not required to send a form if the amount is less than $10.

 

You, however are required to report all income, no matter how small, and regardless of whether you got a form or not. The IRS allows rounding, so an amount of 49 cents or less rounds to 0 and is not reportable.

 

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.
skgeorge108
Returning Member

Hello, I received less than $10 in interest income and I didn't get a 1099-INT.Where can I input the amount of interest manually if I don't have this form? Thanks!

go  to Ttax.... Federal taxes/Wages and Income section. go to Interest and dividend 

section of that screen....add your interest amount (regardless of how small the amount) on 1099-INT line.

That is where it should be reported even though you did not receive a 1099-INT form.

Hope this helps...

Thanks 

Samir

skgeorge108

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