You'll need to sign in or create an account to connect with an expert.
Any amount of income that is more than 49 cents is reportable and taxable.
If the amount is less than $10, the bank does not have to send you a 1099-INT, but you are required to report the income. You report it as if the bank had sent you a 1099-INT. Just put the bank name as the payer and put the interest in Box 1.
To enter interest income (without a 1099-INT):
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
rwstealle
Level 1
ip20
Level 1
victorylavin
New Member
gshevchenko57
New Member
melissathomas6171
New Member
Want a Full Service expert to do your taxes?