Interest income

LDriggers · ‎November 16, 2022

I have a small trust account to take care of my pets. Do I have to report the interest income on this bank account if it is very low? What is the limit?

Anonymous · ‎November 16, 2022

Hello, the limit is $10 per year, if it is $10 or more, you need to report it on your tax return. Here is a link from Intuit: https://turbotax.intuit.com/tax-tips/investments-and-taxes/filing-tax-form-1099-int-interest-income/...

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Anonymous · ‎November 16, 2022

Hello, the limit is $10 per year, if it is $10 or more, you need to report it on your tax return. Here is a link from Intuit: https://turbotax.intuit.com/tax-tips/investments-and-taxes/filing-tax-form-1099-int-interest-income/...

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