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    JeffP2011's Avatar
    JeffP2011 Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Apr 9, 2012, 01:39 PM
    Amend 2010 return for an interest less than $40.
    I noticed while preparing my 2011 return that I forgot to report bank interest of less than $40. What happened was that I had two statements on the bank/brokerage website. I got the one which said 1099-MISC and I thought it included everything and didn't check the other account section.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 23, 2012, 11:23 AM
    The amount of income is LESS than $50, so you can safely ignore it. The IRS does not address such issues unless the added income is $50 or more.
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