What is a Form 1099-INT?

Modified on Wed, 24 Jan 2024 at 06:45 AM

A Form 1099-INT is usually sent to you if you have interest income, interest from US Savings Bonds and/or Treasury obligations, and tax-exempt interest of at least $10.

 

It's common to just have a value of interest paid on your 1099-INT but some other boxes may also have values. 

 

It is likely that you may receive a consolidated 1099 form from your bank. A consolidated Form 1099 may combine up to five separate 1099 forms (1099-B, 1099-DIV, 1099-INT, 1099-MISC, and 1099-OID) into one tax reporting document and will show your reportable income and transactions for the tax year from the issuer.

 

Please note that Beem does support boxes 7-8 for foreign tax paid up to $600 if married filing jointly ($300 for all others). More information about what each of the boxes mean on the 1099-INT can be found here

 

For coverage details and other important legal information about Filer, you can read more here.

 

Additional Resources:

 

This content is provided for informational purposes only and should not be construed as tax, legal, financial, accounting, or other advice. Rules and regulations vary by location and are subject to change, so please consult with an expert if you need advice specific to you.

 

Any third-party links are provided for informational purposes only. The third parties and their sites are not endorsed by Beem and Beem is not responsible for, and has no control over, their content, privacy policies, or terms of service.

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