turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

putn1206
New Member

My wife did not receive a 1099 INT form. (checking and savings interest). This amt will barely be $30. Does this matter if omitted or should I contact the bank?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
AnnetteB6
Employee Tax Expert

My wife did not receive a 1099 INT form. (checking and savings interest). This amt will barely be $30. Does this matter if omitted or should I contact the bank?

The amount of interest income should not be omitted, no matter how small.  It can be entered without having the actual Form 1099-INT by just including the bank name and interest amount as if it were reported in box 1.  

 

If you expect the amount was near $30, you should contact the bank for verification of the interest that was earned and to inquire about the Form 1099-INT.  The Form 1099-INT should be issued to you if the interest income is greater than $10.

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

My wife did not receive a 1099 INT form. (checking and savings interest). This amt will barely be $30. Does this matter if omitted or should I contact the bank?

Note also, that many people have now selected electronic paperwork only...and they usually need to log into their account to get their 1099-INT forms.   But generally, no 1099-INT will exist if it's less than $10...BUT, you still are supposed to enter the interest if it's 50cents or more in interest for the year.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question