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received no 1099-int from bank. got $9.47 interest. where to enter it?

You enter it as a 1099-INT

Federal Taxes (Personal Taxes if you are using Home and Business)

Wages & Income (Personal Income is using Home and Business)

Explore on my own (you may or may not see this)

Interest and Dividends

Interest on 1099-INT

put the bank name as the payer and put the interest in Box 1. That's all you have to do.

 





  • There is no bank interest it is royalties.  I need to go back and undo this.  Please let me go back
Go to the Wages and Income area which you can click on on the left side of the page.  Bank interest would go somewhere in this area under interest income.
  • How do I go back to the Wages and Income area? There is nothing on the left of my screen!
  • help   how do i go to my tax report/
  • lol
My understanding is that if it is under $10.00 then the bank does not send out a 1099-INT as it is not necessary to report the interest on your tax form if under $10.
  • I don't think so. Last year I received 1099-INT's from both of our banks and they were for $6.07 and $4.78 respectively.
  • If the interest is under $10.00 the bank won't send out a 1099-INT form but you still need to report it.  Any interest income a $1.00 & above must be claimed.  The IRS allows rounding, less than 50 cents rounds to zero and is not reportable. 50 cents or more rounds to the next dollar and is reportable and taxable
  • Are you sure about that? $1.00 and up?
  • yes I am
  • That is absolutely the truth. Don't know how this myth got started but I hear it all the time. The bank isn't required to issue the 1099-int form to you unless it is over $10 but YOU are required to file any interest for $.50 and over.
No 1099 INT entered Coffeyville Resources as 1099 INT last year should have been 1099 MISC.
It isn't a bank it should be under Royalties 1099 MISC