Written by:
Image
Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades.

Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 2 million monthly readers. While there, Paul authored and edited thousands of financial research briefs, was published on Nasdaq. com, Yahoo Finance, and dozens of other prominent media outlets, and appeared as a guest expert at prominent radio shows and i...

View all posts
Updated August 5, 2020

What is Form 1099-INT?

Interest is taxable income. The Form 1099-INT shows how much interest a person earned from an institution in a tax year. The IRS requires brokerage firms, banks, mutual funds and other financial institutions to file Form 1099s on interest they pay during the year (the minimum interest paid to trigger a Form 1099-INT is $10).

How Does Form 1099-INT Work?

Let's say that John Doe has a savings account at Bank XYZ. The bank account pays him interest of $200 per year. The bank creates and sends a Form 1099-INT to John (and the IRS) reflecting his $200 of interest income. John uses that information to report that income on his IRS Form 1040 at the end of the tax year.

Why Does Form 1099-INT Matter?

Form 1099-INT is an IRS form used to report interest income.

Ask an Expert about Form 1099-INT
At InvestingAnswers, all of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Form 1099-INT.
Be the first to ask a question

If you have a question about Form 1099-INT, then please ask Paul.

Ask a question

Read this next

Don't Know a Financial Term?
Search our library of 4,000+ terms
 - profile
Ask an Expert about Form 1099-INT

By submitting this form you agree with our Privacy Policy

Share
close