1099-INT, Interest Income

This reports more than $10 in interest from a financial institution, like a brokerage, mutual fund, or bank. You can add your 1099-INT in the "Income" section of the filing flow.

Breaking down the boxes:

  • Box 1: Taxable interest not included in box 3 is reported here. Might include interest from a bank account or a certificate of deposit.
  • Box 2: Early withdrawal penalties. If you withdraw money from a time-based deposit before it matures, you might have to pay a penalty, which is deductible.
  • Box 3: Interest on U.S. savings bonds and treasury obligations, which might be exempt from state or local taxes.
  • Box 4: Federal tax withheld at source, also known as backup withholding. If you didn't provide your Social Security number to the payer, or if you're subject to backup withholding, the payer may withhold taxes from your interest income at a flat rate.
  • Box 5: Investment expenses (for instances where you own a share of a taxable bond trust and would receive a prorated share of the investment expenses of the trust).
  • Box 6: Foreign tax paid.
  • Box 7: Foreign country or U.S. possession where tax was paid.
  • Box 8: Tax-exempt interest — This might include interest from a municipal bond.
  • Box 9: Specified private activity bond interest — These bonds are used by municipalities to attract private investment for projects that have some public benefit.
  • Box 10: Market discount on bonds.
  • Box 11: Bond premium.
  • Box 12: Bond premium on Treasury obligations.
  • Box 13: Bond premium on tax-exempt bond.
  • Box 14: Tax-exempt and tax credit bond CUSIP number.
  • Box 15: State
  • Box 16: State identification number.
  • Box 17: State tax withheld.