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Level 2
posted Mar 26, 2022 11:42:35 AM

If I called my bank because I got no 1099-INT, and they said it's because I made less than $10 in interest in 2021, do I need to enter the amount on the 1099-INT page?

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1 Best answer
Level 15
Mar 26, 2022 11:45:43 AM

Yes, all income should be entered in your tax return.   The banks are not obligated to send you a 1099-INT when the amount is under $10 but you are required to enter the amount as a 1099-INT form.

 

Where do I enter Form 1099-INT?

 

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.

1 Replies
Level 15
Mar 26, 2022 11:45:43 AM

Yes, all income should be entered in your tax return.   The banks are not obligated to send you a 1099-INT when the amount is under $10 but you are required to enter the amount as a 1099-INT form.

 

Where do I enter Form 1099-INT?

 

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.