Bank and investment income
Form 1099-INT Guide
Read Form 1099-INT boxes for taxable interest, Treasury interest, tax-exempt interest, foreign tax, bond premium, and withholding.
1099-INT
Interest Income
Decision point
Use this guide when
- A bank, credit union, broker, or other payer reported interest income.
- Your statement includes U.S. Treasury or tax-exempt interest.
- Foreign tax, bond premium, market discount, or backup withholding appears on the form.
Read the document
Key boxes, columns, and parts
| Location | Label | What it means | Next destination |
|---|---|---|---|
| Box 1 | Interest income | Taxable interest not reported in another specific interest box. | Form 1040 interest reporting; Schedule B when required |
| Box 2 | Early withdrawal penalty | Penalty charged for withdrawing funds early. | Schedule 1 adjustment when eligible |
| Box 3 | Interest on U.S. savings bonds and Treasury obligations | Federal taxable interest that may receive different state treatment. | Keep with the form records. |
| Box 4 | Federal income tax withheld | Backup withholding taken from interest. | Federal withholding claimed on Form 1040 |
| Box 8 | Tax-exempt interest | Interest generally exempt from federal income tax but still reported on the return. | Form 1040 tax-exempt interest line |
| Box 9 | Specified private activity bond interest | Tax-exempt interest that may be relevant to alternative minimum tax. | Keep with the form records. |
| Box 11 | Bond premium | Premium reported for a taxable bond. | Keep with the form records. |
| Box 12 | Bond premium on Treasury obligations | Premium associated with U.S. Treasury obligations. | Keep with the form records. |
| Box 13 | Bond premium on tax-exempt bond | Premium associated with a tax-exempt obligation. | Keep with the form records. |
| Box 14 | Tax-exempt and tax credit bond CUSIP | Identifies the obligation associated with certain reported interest. | Keep with the form records. |
Follow the amounts
From source document to tax return
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1. Separate interest categories
Do not combine taxable, Treasury, and tax-exempt interest before reporting.
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2. Check Schedule B
Use Schedule B when the Form 1040 instructions require it for your interest, dividends, or foreign-account facts.
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3. Claim withholding and eligible adjustments
Reconcile Box 4 withholding and any eligible early-withdrawal penalty.
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4. Check state treatment
State treatment can differ for Treasury and municipal-bond interest; use the applicable state authority.
Before filing
Four checks that prevent common errors
- Add forms from all payers; do not rely on a single bank statement.
- Keep Treasury interest separate from ordinary bank interest.
- Report tax-exempt interest even when it is not included in federal taxable income.
- Review foreign tax and private activity bond amounts for additional forms or AMT effects.
Continue the workflow
Related guides and calculators
Common questions
Form 1099-INT FAQ
Is all Form 1099-INT interest taxable?
No. The form can report taxable interest, Treasury interest, and tax-exempt interest in different boxes. Each category follows its own federal and potentially state treatment.
Do I need Schedule B?
Use the current Form 1040 and Schedule B instructions. Schedule B can be required because of the amount or type of interest and dividends or because of certain foreign-account questions.
What if federal tax was withheld?
Box 4 is federal withholding. Reconcile it with your records and claim it with other federal income tax withholding on the return.