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    talhasaleem1990's Avatar
    talhasaleem1990 Posts: 41, Reputation: 1
    Junior Member
    		  
    #1

    Jan 17, 2015, 01:36 PM
    3 cents in brokerage account. Taxes?
    I had some money in a brokerage account before I transferred it to IRA. In that time there was some interest 3 cents that was accumulated.

    Is this something I have to report on taxes?
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #2

    Jan 17, 2015, 02:03 PM
    Don't worry about 3 cents, if that's all there is to report. If you have other income to report anyway, then add it in.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #3

    Jan 20, 2015, 09:59 AM
    No - no need to report it. All entries on your tax return may be rounded to the nearest whole dollar, and 3 cents rounds to $0. Also - the bank will issue a 1099-INT and report the amount to the IRS only if the amount is at least $10.
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