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Level 2
posted Jan 23, 2021 5:10:26 PM

Savings 1099-INT

I received 0.08 cents of interest from my savings account and will not receive a 1099-INT from my bank. Do I need to still report this on my tax return?

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1 Replies
Level 15
Jan 23, 2021 5:19:32 PM

No.  Amounts less than 50 cents are rounded down to zero, as per IRS rules.