What is a 1099-INT Tax Form?

by Phil M. Fowler

An IRS form 1099 is an information return. The 1099-INT provides information regarding interest income earned during the year.

Significance

The 1099-INT reports how much income you earned from interest. You must report that income on your tax return.

Time Frame

Whoever paid you the interest during the year should send you a 1099-INT by February 1 so that you have plenty of time to use the information to file your tax return by April 15.

Relevant Information

Boxes 1-9 of the 1099-INT contain all of the necessary information regarding your interest income for the year. If some of the boxes are empty, they just don't apply to you.

What to Do

Transfer the information from your 1099-INT to your tax return (i.e., your 1040, 1040A, or 1040EZ).

Multiple 1099-INT Forms

If you earned interest from various places during the year, you should receive multiple 1099-INT forms. Include the information from each 1099-INT on your tax return.

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