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Level 4
posted Apr 6, 2024 10:57:25 AM

If interest income is 0.02 or 2 cents, do i have to report that?

box one says $0.02

0 2 568
2 Replies
Level 15
Apr 6, 2024 11:47:50 AM

No...that rounds to zero and can cause error notices.

 

Amounts of 0.50 or higher. should be reported, but you should just go ahead and round them up to $1.00.

 

Any amounts over $1 you can report as-is and let the software round (supposedly) as appropriate.

 

Level 4
Apr 6, 2024 11:59:55 AM

Thanks. i added it.  Another download i did from a financial institution added a small amt too.

if i get an error, i will just wipe them out bc both are under 50 cents.