A 1099-INT is an IRS information return that reports interest income you earned during the year: from savings accounts, CDs, bonds, or brokerage cash. Banks and other payers send it when they pay you $10 or more in interest. You use Box 1 to report that interest on your federal tax return, and the IRS gets a matching copy.

Do I have to claim a 1099-INT on my taxes?

Yes. If you receive a 1099-INT, include the Box 1 amount on the taxable interest line of your Form 1040, and report any Box 8 tax-exempt interest on the tax-exempt interest line. The IRS receives its own copy, so leaving the interest off your return can trigger a matching notice or audit.

Do I have to report 1099-INT interest under $10?

Yes. The $10 threshold only governs whether a payer must send you a 1099-INT. It does not change your obligation. All taxable interest income is reportable on your return, even small amounts and even if you never received a form. Check year-end statements for interest that fell below the reporting cutoff.

Who receives a 1099-INT?

Anyone paid at least $10 of interest by a single payer during the year, typically from a bank, credit union, brokerage, or other financial institution. You may also get one for $600 or more of interest paid in a trade or business, or if federal tax was backup-withheld on your interest, regardless of the amount.

Where do I report 1099-INT on my tax return?

Report 1099-INT interest on Form 1040. If your total taxable interest exceeds $1,500, you must also file Schedule B (Part I) listing each payer. Box 1 goes to taxable interest, Box 3 to U.S. bond interest, Box 4 to federal tax withheld, and Box 8 to tax-exempt interest on the appropriate lines.

What is the difference between a 1099-INT and a 1099-DIV?

A 1099-INT reports interest income: money paid for lending, such as savings account or CD interest. A 1099-DIV reports dividend income from investments like stocks and mutual funds. They cover different income types and report on different lines, so don't confuse them; a brokerage may send you both.

Tax

Form 1099-INT

Form 1099-INT is the IRS information return that reports interest income paid to you during the tax year. Banks, credit unions, brokerages, and other payers issue it when they pay you $10 or more in interest. Box 1 shows the taxable interest you must report on your federal tax return.

Payers must file Form 1099-INT for each person paid at least $10 in interest reportable in boxes 1, 3, or 8, or at least $600 of interest paid in the course of a trade or business.

Source: IRS: Instructions for Forms 1099-INT and 1099-OID

Written & maintained by the Granite team · Last updated June 2026

Overview

Form 1099-INT (Interest Income) documents the interest a financial institution paid you over the calendar year. The headline figure is Box 1, total taxable interest, but the form also breaks out early-withdrawal penalties, U.S. Savings Bond and Treasury interest, federal tax withheld, and tax-exempt interest.

Payers (banks, credit unions, brokerages, and anyone who paid you at least $10 in interest, or $600 in some business contexts) must furnish your copy by January 31 and file a copy with the IRS. You, the recipient, use it to report interest income on Schedule B or directly on Form 1040.

When you’ll get your Form 1099-INT

A savings, checking, or money-market account paid you $10 or more in interest
You hold a certificate of deposit (CD) that accrued or paid interest
You earned interest on U.S. Savings Bonds or Treasury obligations
A brokerage swept idle cash into an interest-bearing account
You paid an early-withdrawal penalty on a CD (reported in Box 2 as a deduction)
Federal income tax was backup-withheld on your interest payments

What’s on your Form 1099-INT

These are the fields Granite reads and extracts automatically the moment you upload one.

Payer name: The bank, credit union, or brokerage that paid you the interest and issued the form.
Payer's TIN: The payer's federal tax ID number, used by the IRS to match the form to the institution.
Recipient name: The account holder the interest was paid to: your name as printed on the form.
Recipient's TIN: Your SSN or taxpayer ID, usually masked except for the last four digits.
Box 1: Interest income: Total taxable interest paid to you during the year. This is the number you report on your return.
Box 2: Early withdrawal penalty: Penalty charged for cashing out a CD early; deductible as an adjustment to income.
Box 3: U.S. Savings Bond / Treasury interest: Interest on savings bonds and Treasury obligations, often exempt from state tax.
Box 4: Federal income tax withheld: Any federal tax (typically backup withholding) already taken out of your interest.
Box 8: Tax-exempt interest: Interest not subject to federal income tax, such as from municipal bond funds.

How long to keep it

4 years

Keep for 4 years from the date you filed the related return

The IRS generally has 3 years to audit a return and 6 if income was understated by more than 25%. Because 1099-INT income is third-party reported, a mismatch is a common audit trigger. Keep the form long enough to prove what you reported, and longer if Box 2's early-withdrawal penalty fed a deduction.

Figure out your exact shred date

Enter the date you filed the related returnand we'll do the math.

General guidance for Form 1099-INT, not tax or legal advice. Verify current IRS/FTC rules or consult a professional for your situation.

How Granite handles your Form 1099-INT

Drop your 1099-INT into Granite and it reads the form, pulls the payer name, tax year, Box 1 interest income, withholding, and tax-exempt amounts, then titles it automatically (e.g. "Chase 2024 1099-INT"). It files into your Tax {{year}} collection alongside your other interest statements and links to the issuing bank as an entity, so every form from that payer surfaces in one search, no folder hunting come April.

FAQ

Form 1099-INT: common questions

What is a 1099-INT?: A 1099-INT is an IRS information return that reports interest income you earned during the year: from savings accounts, CDs, bonds, or brokerage cash. Banks and other payers send it when they pay you $10 or more in interest. You use Box 1 to report that interest on your federal tax return, and the IRS gets a matching copy.
Do I have to claim a 1099-INT on my taxes?: Yes. If you receive a 1099-INT, include the Box 1 amount on the taxable interest line of your Form 1040, and report any Box 8 tax-exempt interest on the tax-exempt interest line. The IRS receives its own copy, so leaving the interest off your return can trigger a matching notice or audit.
Do I have to report 1099-INT interest under $10?: Yes. The $10 threshold only governs whether a payer must send you a 1099-INT. It does not change your obligation. All taxable interest income is reportable on your return, even small amounts and even if you never received a form. Check year-end statements for interest that fell below the reporting cutoff.
Who receives a 1099-INT?: Anyone paid at least $10 of interest by a single payer during the year, typically from a bank, credit union, brokerage, or other financial institution. You may also get one for $600 or more of interest paid in a trade or business, or if federal tax was backup-withheld on your interest, regardless of the amount.
Where do I report 1099-INT on my tax return?: Report 1099-INT interest on Form 1040. If your total taxable interest exceeds $1,500, you must also file Schedule B (Part I) listing each payer. Box 1 goes to taxable interest, Box 3 to U.S. bond interest, Box 4 to federal tax withheld, and Box 8 to tax-exempt interest on the appropriate lines.
What is the difference between a 1099-INT and a 1099-DIV?: A 1099-INT reports interest income: money paid for lending, such as savings account or CD interest. A 1099-DIV reports dividend income from investments like stocks and mutual funds. They cover different income types and report on different lines, so don't confuse them; a brokerage may send you both.

Sources

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