I earned less than $5 interest from checking and savings accounts but did not recieve a 1099-INT from the bank. How do I report this income?

[DavidD66]

Although Financial Institutions  don't have to provide a 1099-INT for amounts under $10 that doesn't relieve you of the obligation to report it.  Just report it "as if" you received a 1099-INT.   

[ggalamba]

How does one delete a  message?

[MichaelG81]

Form 1099-INT reports interest from banks, brokerages, and other financial institutions. Here's how to enter a 1099-INT:

1. Sign in to your TurboTax account and open or continue your return
2. Select Federal from the menu, then Wages & Income
3. Locate the section titled Investments & Savings and select Show More, then select Start or Revisit next to Interest on 1099-INT
4. Select Yes on the screen Did you receive any investment income? then Continue
   • If you see the screen Your investments & savings or Here's your 1099-INT info, select Add investments or Add another 1099-INT, then Continue
5. On the next screen, select how you want to enter your Form 1099-INT:
   • Manually enter the info, select Enter a different way, and follow the instructions to enter your 1099-INT
6. On the screen Do any of these uncommon situations apply? check the boxes according to your situation and Continue

On desktop:

Enter your banks information manually. The Interest no matter how little has to be reported on your tax return. However, banks are not required to report under a certain amount, but your obligation to report does not change.

@aefonner 

[leeloo]

This is taxable income. The fact that it is only $5 is irrelevant. The only de minimus interest income is if it's under 50 cents and that is due to IRS rounding policies. 

@aefonner 

[JulieS]

Yes, you can enter your taxable interest even if you don't have a 1099-INT. This is how to do it:

1. Select Federal on the left side menu.
2. Select Wages & Income.
3. Scroll down and find Interest and Dividends.
4. Expand that section and find Interest on 1099-INT.
5. Click Start to the right.
6. Answer the first question Yes.
7. Click Continue.
8. Click Change how I enter my form in the lower right corner.
9. Select Type it in myself.
10. Fill in the first box with your banks name.
11. Enter the interest amount in box 1 and click Continue.
12. Select None of these apply, and click Continue.
     

[aefonner]

Thank you for your answer. It was helpful.