What is IRS Form 1099-INT?
Form 1099-INT is sent to inform taxpayers of taxable interest that they have earned. This form will be sent by any bank or other institution that has paid a taxpayer at least $10 in interest during the year. If any interest has been withheld to pay taxes, that will be noted. The amount of tax-exempt interest will also be shown. Some interest on US savings bonds and other debt instruments will not be taxable at the federal, state, and/or local levels. Certain other expenses and taxes paid or owed will also be included.
