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June 2, 2025
Question

i typed 0 interest made-a mistake. i made 1147.83. I read that under 1500 no need to file. how to correct , if needed ?

  • June 2, 2025
  • 2 replies
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2 replies

DoninGA
June 2, 2025

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

VolvoGirl
June 2, 2025

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.