Form 1099-INT (2020)

1. What is a 1099-INT Form?

The fillable Form 1099-INT (Interest Income) is an IRS tax form that is used for reporting your interest income received from financial institutions (banks, funds, etc.), saving accounts, and the US saving bonds to the Internal Revenue Service. You have to file this form along with your 1096 Form by the end of the tax year you want to report. 

2. What I need the 1099-INT Form for?

• You have to submit the Form 1099-INT blank if you are an account holder who receives over $10 of interest income within the financial year;
• File if you received interest income from saving accounts, interest-yielding accounts, deposit certificates, treasury bonds, or money market accounts;
• Use the form to avoid paying income tax on the reported INT form. 

3. How to fill out Form 1099-INT?

If you want to fill out the form online, you can use our online PDF editor or download Form 1099-INT onto your computer for free and use your favorite tax software. Else, you can print a complete or empty form directly from the website to file it by mail.  The form comes in 3 copies. You have to input the same information into all of them. 

• Provide your personal information (name, TIN, full address);
• Enter the recipient’s TIN;
• Provide your account number;
• Include your RTN (if you have it);
• In lines 1-13, enter the real amount of your interest income, penalties, foreign taxes, investment expenses, bond premiums, discounts, etc.;
• Identify your state and the amount of state tax withheld; 
• Send Copy A to the local IRS office, Copy 1 to the State Tax Department, and keep copy B in your personal business archive. 

4. Organizations that work with Form 1099-INT:

• Internal Revenue Service of the US;
• State Tax Department.