Sherilynne B
|
Yes you must report it but such a small amount can be reported right on your main tax form without additional forms.
It is line 2 on form 1040EZ and you can report up to $1500 without an additional form. |
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Helper
 |
Usually, Yes. You should receive a 1099-INT from the institution where you earned the interest. Even if you do not get a 1099, you are still required to report it. This is usually reported on Schedule B of a 1040 and carried to page 1 of the return just under where your wage income goes. If this is the only interest income you recieved, you can usually just omit Sch. B and just write the interest directly on the line on page 1. |
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NATIVE NEW YORKER
|
IT'S INCOME, YOU HAVE TO REPORT IT....... |
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fAiTh
 |
yes or YOU WILL PAY..........!!! |
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Dane
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Yes |
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faclark
|
Yes, you must report it.
You can report it on Form 1040EZ, line 2.
http://www.irs.gov/pub/irs-pdf/f1040ez.pdf?portlet=3 |
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RED ROSE
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yes |
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Vic
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absolutely |
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slhecker
 |
Interest income is reported on the 1040. It's a separate line item from earned income. Should be pretty easy to find when you look at the form. |
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pskomorn
 |
Any of that income that is more than $10 from an individual source is going to be reported to the IRS. The IRS might question at some point in the future why you did not report it. File a 1040 EZ, showing that interest and that you had no other income, thus owing nothing, and you'll have them covered.
The link to the form and instructions are below. It is so simple "even a caveman can do it." |
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Judy1
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If your TOTAL income, including your salary, requires you to file, then yes, you need to report it. It will go on your 1040 or 1040A or 1040EZ right under your salary - there's a line that says "interest" - you don't need an additional form. |
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♥Honey B. Fly♥
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All earned interest, income, etc must be reported no matter the amount. Go to the irs.gov website in order to find out the appropriate form you need. |
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elaine814
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wait for w-2 EZ file add interest to other income . |
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da_hammerhead
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No. Anything less than $260 needs no reply. |
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boredperv
 |
Yes, but at that amount you do not need an additional form. The amount will go on the first page of your 1040, 1040A or 1040EZ. |
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Simple1
|
Dang Balda where you work at? Im thinking you can just hold on to that income tax till next year....cause its under $500 |
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