Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
m34567ls
New Member

I have earned less than 50 dollars from bank interests( No T5 received ). How should I report this amount in Turbotax ?

 
3 Replies

I have earned less than 50 dollars from bank interests( No T5 received ). How should I report this amount in Turbotax ?

If you received a small about of interest from you bank (under $50), you may not have received a T5 slip. You must still report this income, even if you weren’t issued a slip.

In TurboTax, click on Income > Investments > Interest on Bank Accounts Not Reported on a T-Slip


I have earned less than 50 dollars from bank interests( No T5 received ). How should I report this amount in Turbotax ?

Hi. 

I have tried this advice, but Turbotax won't allow me to access this (to report this tiny amount of income) without upgrading my Turbotax Standard/Deluxe (2021) to Turbotax Premium. It states:

To report interest and investment income not reported on a T-slip, you need to upgrade.

Is this a bug??  I have always used Standard (called Deluxe this year), and it seems very unnecessary to upgrade simply because this year I have not collected enough interest for the bank to generate the T5.  Can this be fixed, or how do I get around this?

 

Thank you!

I have earned less than 50 dollars from bank interests( No T5 received ). How should I report this amount in Turbotax ?

There have been changes made to TurboTax Online. Please see this TurboTax FAQ for more information:

Why did I have to upgrade my TurboTax Online edition?