Minimum limit for bank interest for reporting

jawckey · ‎March 2, 2025

I am preparing my tax return for 2024 with Turbotax premium. Pl. clarify if there is a minimum limit below which I don't have to report the interest earned in the checking and savings accounts with US banks?

regards

JohnB5677 · ‎March 2, 2025

All income should be reported on you tax return.

However, financial institutions are not required to issue a 1099-INT for less than $10; therefore, the IRS does not get a record of it.

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View solution in original post

JohnB5677 · ‎March 2, 2025

All income should be reported on you tax return.

However, financial institutions are not required to issue a 1099-INT for less than $10; therefore, the IRS does not get a record of it.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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Minimum limit for bank interest for reporting