What is the minimum amount of interest earned or paid that is required for SCCU to produce a tax form 1099INT?
$10 is the minimum amount that triggers the production of a tax form. This number is the total of the interest earned on all interest-earning accounts held by a member. For example, if you have a savings account and an interest-earning checking account, you will receive a form if the interest earned from those two accounts totals $10 or more. If the amount is less than $10, no form is produced.
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