I was enrolled in bank of americas keep the change program and earned like $30 interest or whatever, I got a form in the mail about it and I have no idea what form to use or how to do this since. I always do my own taxes every year being that its always simple, is this something I can do myself or do I need to seek professional help?
How do I claim interest from my savings account on my federal taxes?
You can use whatever 1040 version you'd normally use (1040, or 1040A of EZ). Right below the wages line there's a line for interest, put it there. It is NOT tax exempt interest.
This is totally simple, and no don't pay somebody just for that.
How do I claim interest from my savings account on my federal taxes?
What form did you get? If it was a 1099-INT then you just put the amount on the interest line on your tax return.
If it was some other form, let us know what it was. At least one of of those programs actually just rounded up debit card transactions to the next dollar and swept the excess into your savings account. All that that did was move money from your checking account into your savings account. That is NOT income that you report on your tax return since they are only moving YOUR money from one account to another.
