IRS FORM
Form 1099-INT
Interest Income
Interest Income
A 1099-INT, “Interest Income”, is a form used in the U.S. to report interest income received during the tax year to both the Internal Revenue Service (IRS) and the person or entity who received the income. This form is part of the 1099 series, which are used to report various types of income that individuals may receive throughout the year other than salary from an employer. It is an essential document for tax reporting purposes, ensuring that interest income is correctly reported to the IRS.
Per the IRS, file Form 1099-INT for each person:
- To whom you have paid amounts of at least $10, reportable in boxes 1, 3, and 8.
- For whom you withheld, and on whose behalf you paid, any foreign tax on interest.
- From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment.