Reporting Interest Income on form 1040

[ddc050258]

I received less than $1,500.00 in Interest Income and no 1099-INT forms. Do I still need to report it on form 1040? The total is around $700.00.

[SharonD007]

Yes, you must report all taxable and tax-exempt interest on your tax return, even if you didn’t receive Form 1099-INT.  Refer to IRS Topic no. 403, Interest received for more information. 

You will enter your Interest income in the Investment & Savings Section of Wages & Income.

1. Select Wages & Income
2. Select Interest on 1099-INT under Investments & Savings
3. Select Start or Revisit
4. Follow the prompts to add your interest.

Refer to the TurboTax articles Where do I enter Form 1099-INT? and  Filing Tax Form 1099-INT: Interest Income for additional information.