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Form 1099-INT: Interest Income

tax form, United States

Written byNancy Ashburn

Fact-checked byThe Editors of Encyclopaedia Britannica

Illustration of a decorative 1099-INT tax form, featuring placeholder text in labeled boxes and a green patterned background.

Use Form 1099-INT to report interest income.

Encyclopædia Britannica, Inc.

If you earned more than $10 in interest during the tax year, your bank, credit union, brokerage, or other financial institution generally sends you Form 1099-INT. The document reports interest income you received during the year.

Interest is one of the most common types of income reported on Forms 1099. It’s money you earn for allowing a financial institution, business, or government to use your money. Common sources include savings accounts, certificates of deposit (CDs), bonds, and some kinds of Treasury securities. You may also receive taxable interest on some tax refunds or other financial obligations.

Key boxes on Form 1099-INT

Box 1: Interest income.
Box 2: Early withdrawal penalty (such as for cashing in a CD before maturity), which may be deductible.
Box 3: Interest from U.S. savings bonds and Treasury securities.
Box 4: Federal income tax withheld.

Using Form 1099-INT

Use Form 1099-INT to report taxable interest income on your federal income tax return. Keep the form with your tax records, even if you don’t owe additional tax, because the Internal Revenue Service receives a copy of the information reported on it.

This article was most recently revised and updated by Nancy Ashburn