All the income and any foreign taxes paid on it were reported to you on a qualified payee statement such as Form 1099DIV, Form 1099-INT
, or Schedule K-1.
One of those changes, seen on the 2014 Form 1099-INT
, is the introduction of line 11, "bond premium": this lists the annual bond premium amortization for covered securities purchased after January 1, 2014.
for interest payments and Form 1099-DIV for dividend payments) has been used for many years to simultaneously report to the IRS and payment recipients the amount that payment recipients received in a given calendar year.
Customers that need to print tax form 1099-int
, interest income, can download and try this tax software for free at www.
Certain payments of interest, dividends, and royalties are required to be reported to taxpayers--with a copy of the report furnished to the IRS--on Form 1099-INT
, Form 1099-DIV, and Form 1099-MISC, respectively.
Among the other information returns it included was a Form 1099-INT
reporting $60,292 interest income from the same partnership swap transaction.
Typically such amounts will be shown on the individual's Form 1099-INT
from the institution, along with interest paid on the account.
In my last column (November 2007), we discussed the definitions of "interest" and "bonus" under both deposit regulations and Internal Revenue Service (IRS) roles to determine what is reported to the IRS on a Form 1099-INT
Current income tax regulations provide that any person who pays interest totaling $10 or more in a given year to any other person must file a Form 1099-INT
W-2, Wage and Tax Statement, Form 1099-INT
, Interest Income; Form 1099-B, Proceeds From Broker and Barter Exchange Transactions; and Form 1099-DIV, Dividends and Distributions).
Ez1099 Software with Form 1099-INT
printing and e-filing capability is developed and distributed by Halfpricesoft.