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afaik, most people do report interest from savings account. In US, The bank sends a 1099-int to you and the IRS if interest earned>$10
by awa 9y ago
afaik, most people do report interest from savings account. In US, The bank sends a 1099-int to you and the IRS if interest earned>$10
- slavik81 9y agoIn Canada the threshold is $50 for receiving a T5. You are, of course, still obligated to report it even if you don't get a form. I actually do bother to look that stuff up each year, but I suspect that many Canadians do not if they don't receive a form.