Who knows alot about 1099 Interest Income Tax - GoFuckYourself.com

Persius · 01-20-2005, 07:25 PM

i have this one bank where i gained 45$ in interest... is it even worth claiming...

on the other hand i have another that has gained quite abit.. would i do this seperately?

GatorB · 01-20-2005, 08:01 PM

From the IRS website

You should receive a Form 1099-INT (PDF), Interest Income; Form 1099-OID (PDF), Original Issue Discount; or a similar statement from each payer of interest of $10 or more, showing the taxable interest you must report. This information is often included on your year?end account statement. Even if you do not receive a statement, you are still responsible for reporting all taxable interest income.

Steen2 · 01-20-2005, 08:06 PM

An accountant.

LiveDose · 01-20-2005, 08:08 PM

Quote:

Originally Posted by Steen2

An accountant.

What he said. And yes you should claim it....

01-20-2005, 07:25 PM	#1
Persius Tap into MOBILE! Industry Role: Join Date: Jul 2003 Location: Hollywood Posts: 11,779	Who knows alot about 1099 Interest Income Tax i have this one bank where i gained 45$ in interest... is it even worth claiming... on the other hand i have another that has gained quite abit.. would i do this seperately?

01-20-2005, 08:06 PM	#3
Steen2 Confirmed User Join Date: Feb 2004 Location: Vancouver, Canada Posts: 7,662	An accountant. __________________ ICQ: 2262.73945

01-20-2005, 08:01 PM	#2
GatorB The Demon & 12clicks Industry Role: Join Date: Oct 2001 Location: SallyRand is a FAGGOT Posts: 18,208	From the IRS website You should receive a Form 1099-INT (PDF), Interest Income; Form 1099-OID (PDF), Original Issue Discount; or a similar statement from each payer of interest of $10 or more, showing the taxable interest you must report. This information is often included on your year?end account statement. Even if you do not receive a statement, you are still responsible for reporting all taxable interest income.