Form 1099-INT

DEFINITION of 'Form 1099-INT'

The form issued by all payers of interest income to investors at year's end. Form 1099-INT breaks down all types 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.

BREAKING DOWN 'Form 1099-INT'

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.

RELATED TERMS
  1. Payer

    An entity that makes a payment to another. While the term payer ...
  2. Nominee Distribution

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  3. Nominee Interest

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  4. 1040 Form

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  5. Extendable Swap

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