Form 1099-int Definition

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Definition Of Form 1099-int:

The form issued by all payers of interest income to investors at year's end.
Form1099-INT breaks down alltypes of interest income and related expenses. Payers must issue Form 1099-INTs for any party to whom they paid at least $10 of interest during the year. Taxpayers who receive over $1,500 of taxable interest must list all of the payers on Part 1 of Schedule B on Form 1040, or Part 1 of Schedule 1 on the 1040A. Form 1099-INTs will always report interest paid as cash-basis income. Income that is owed but not yet paid cannot be reported on this form.

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