From the course: Business Tax Foundations

Unlock the full course today

Join today to access over 22,600 courses taught by industry experts or purchase this course individually.

1099-INT forms

1099-INT forms

From the course: Business Tax Foundations

Start my 1-month free trial

1099-INT forms

“

- [Instructor] Another very common 1099 you'll probably receive is the 1099-INT, or 1099 Interest Income form. Let me walk you through one. So just like a 1099 Miscellaneous or any of the other 1099's, on the left-hand side, you'll have the payer's information. In many cases, you as a business owner probably won't be the payer on a 1099-INT, right? Unless you operate a bank, or for some other reason, pay interest to others, you're probably not going to submit these. However, you probably will receive some of them. If you operate any kind of a business checking account or business money market account for the excess cash flow that you have in the business, you'll receive this kind of a 1099-INT, in many cases. So on the left, you'll have the payers information along with the payer's tax ID number. Then below that, we'll have the recipient's tax ID number and your name, address, city, state, and zip code. In addition to the identifying information for the payer and the recipient, on the…

Contents