1099-INT
Business & Finance abbreviation · Tax
| Stands for | Interest Income (IRS Form 1099-INT) |
|---|---|
| Categories | Business & Finance |
1099-INT stands for Interest Income (IRS Form 1099-INT), a tax abbreviation.
Banks, credit unions, brokerages and the Treasury send this statement to report interest paid to an account holder during the year, generally once it reaches $10. Interest on US Treasury securities and savings bonds is shown separately because it is exempt from state income tax.
Example: My HYSA earned $412 last year, and the bank's 1099-INT just landed in my inbox.
Usage notes
Interest under $10 is still taxable even though no form is issued. Box 8 shows tax-exempt municipal bond interest, which must still be reported on the return. Early withdrawal penalties on certificates of deposit appear in Box 2 and are deductible as an adjustment to income.
Related abbreviations
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- 1099-NEC – Nonemployee Compensation (IRS Form 1099-NEC)
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- 1120 – U.S. Corporation Income Tax Return (IRS Form 1120)
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