What is the dollar amount trigger that requires I report interest income? Is it $10 or more? Or is it $100 or more? Or do I have to report all interest income from $1?

All interest income is required to be reported on your tax return, regardless of the amount. Generally, a bank may not issue a 1099-INT for interest income less than $10.  But you're still required to report it.

 

Yes, when you have interest income of less than $10, your financial institution is not required to give you a @staceydever 

 

1099-INT form. However, all income needs to be reported. In TurboTax, you would enter the interest "as if" you received form 1099-INT

 

To enter:

1. As you're going through the interview, on the Let's import your tax info screen, select Change how I enter my form.
2. On the How do you want to add your 1099-INT? screen, select Type it in myself.
3. On the Let's get the info from your 1099-INT screen, enter the information. Note: there's no where on the screen where it asks for the FEIN.

[Edited 04/05/2022|4:07 pm PST]

....well, to clarify... amounts of 50cents or higher are supposed to be reported as a 1099-INT from that bank, even of they didn't send you one.

 

....amounts of 49cents or less, end up being rounded to zero....and generate a software error as-if it is a blank 1099-INT....thus, you can ignore it only if it's 49cents or less.

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Checking interest % is so pitifully tiny, that interest amounts less than 50cents are possible