I have a 1099-INT with $68 of interest. After entering the amount into TurboTax, the amount is showing $0. Has something changed in the tax laws?

[baldietax]

Depends what else you have going into your taxes and deductions.  If that's literally the only thing you put in TT so far it will show $0 tax because your AGI will fall below standard deduction and your taxable income will be zero until you cross that deduction threshold.  Check Form 1040 to see the calculations.

[MindyB · Accepted solution]

If the amount showing $0 is tax due, @baldietax is exactly right. ‌Continue on with your return, as there is no tax liability for $68.

If the interest income is showing $0, revisit that section in TTO:

1. Federal > Wages & Income

2. Investment and Savings

3. Interest on 1099-INT

4. Select the entity that paid $68 and be sure the amount is entered in the proper box number in TTO.  

Here is some helpful information on taxation of interest.