All income received, both earned and unearned income, is required to be reported on a tax return. You have to report the interest received.
To report interest income received -
Click on Federal Taxes (Personal using Home & Business) Click on Wages and Income (Personal Income using Home & Business) Click on I'll choose what I work on Under Investments and Savings On Interest on 1099-INT, click on the start or update button
Sorry you must report all your income. Even $1 of interest that you don't get a 1099 for. The 1500 is referring to Schedule B. Schedule B is to list all the individual 1099 forms. You only need to include Schedule B if either your interest or dividends are 1500 or more.
TurboTax Expert Assist
Get answers to all your tax questions
Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.