If a bank does not send you a1099-INT because it was less than $10.00, do you have to report it anyway?

Do I have to report interest income in 2022 if the amount is less than $10.00 and the bank does not send a 1099INT for amounts under $10.00?

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1 Best answer

Level 15

Mar 2, 2023 7:05:45 AM

It may be trivial but, technically, you are required to report all of your income, whether you receive a tax reporting statement or not.

Level 15

Mar 2, 2023 7:05:45 AM

It may be trivial but, technically, you are required to report all of your income, whether you receive a tax reporting statement or not.

Level 15

Mar 2, 2023 7:47:13 AM

You should probably ignore only if the amount is 49cents or less....that will round to zero and sometimes cause filing problems.