My bank issued 1099-INT for 49 cents of interest earned in 2022. How do I report this?

[KoalaBear1]

Surprisingly, my bank issued 1099-INT form for 49 cents of interest.   IRS rounds up or down all #s and so do all tax programs.  So 49 cents will round down to 0 dollar.   Do I just enter this bank as payer and enter 0.49 in Box 1 Interest Income and let the program round down to 0 dollar, and just report 0 dollar to IRS?   I don't see there's a way to report it as 49 cents, and since 49 cents of interest is being furnished to IRS, and I think I'm required report even if it rounds down to 0 dollar.   Anyone know how to handle this?   Thank you.

[DoninGA]

Since the interest is less than $0.50 you can disregard the interest and it would not be entered on your tax return.

[KoalaBear1]

So I can simply not report 49 cents of interest earned?   Bank issued 1099-INT for this 49 cents, and it has the standard warning, "This is important tax information and is being furnished to the IRS.  If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that is had not been reported."   I believe IRS has or used to have a policy to not ask about amount under $20.    I would feel more comfortable reporting 49 cents as rounded-down 0 dollar in Box 1 Interest Earned instead of not reporting it.   Anyone know what would happen if I report 49 cents rounded down as 0 dollar?  Thank you.

[VolvoGirl]

Don't worry about it.  I can't believe the bank gave you a 1099INT for 49 cents.   They should not send you a 1099 for less than $10.