Interest income under $10 in a given year is exempt from federal income taxation.

Name: Interest income under $10 in a given year is exempt from federal income taxation.
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Interest income of any amount is generally taxable and must be reported on your federal income tax return, but the IRS may not require reporting of interest income under $10 from any one source on Form 1099-INT. However, it is still considered taxable income.

Interest Income Under $10 in a Given Year Is Exempt