FAQs on Form 1099 Series

Who Needs to File Form 1099-INT?

Form 1099-INT is used to report interest income for each person: To whom you paid amounts reportable in boxes 1, 3, and 8 of at least $10 (or at least $600 of interest paid in the course of your trade or business described in the instructions for box 1, Interest Income), For whom you withheld and paid any foreign tax on interest, or From whom you withheld (and did not refund) any federal income tax under the backup withholding rules regardless of the amount of the payment. Report only interest payments made in the course of your trade or business, including federal, state, and local government agencies and activities deemed nonprofit or for which you were a nominee/middleman. Tax-exempt interest should only be reported on Form 1099-INT. Tax-exempt interest that is original issue discount (OID) does not need to be reported, however interest that is taxable OID must be reported on Form 1099-OID.

Related Questions

What is Form 1099-INT?

Which Recipients are Exempt from Filing Form 1099-INT?

When is Interest Excluded from Reporting on Form 1099-INT?

When is Payment of Interest Made in Regards to Form 1099-INT?

What is WHFIT and How Is It Reported on Form 1099-INT?

Last modified 26 Jul 2017 16:07 EST

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