- For covered securities that were acquired at a discount or premium, the payer must either report the net interest amount or separately report the market discount and premium amortization amounts on the Form 1099-INT.
- For non-covered securities, the payer is not required to provide information to the taxpayer on any discount or premium. Also, it is solely the responsibility of the taxpayer to account for those amounts on their tax return.
Countries and Languages
| Countries | Languages |
|---|---|
| USA | English |
Extracted Fields
Basic Form Information
| Field | Description |
|---|---|
| Void | Specifies that the processed form should be annulled. |
| Corrected | Specifies that the processed form is being submitted to correct data provided earlier. |
| Year | The reporting fiscal year. |
Payer Details
| Field | Description |
|---|---|
| Name | The name, address, and phone number of the payer. |
| Street | The name, address, and phone number of the payer. |
| City | The name, address, and phone number of the payer. |
| State | The name, address, and phone number of the payer. |
| ZIP Code | The name, address, and phone number of the payer. |
| Country | The name, address, and phone number of the payer. |
| Phone | The name, address, and phone number of the payer. |
Tax Identification Numbers
| Field | Description |
|---|---|
| Payer’s TIN | The tax identification number assigned to the taxpayer. |
| Recipient’s TIN | The tax identification number assigned to the recipient of the taxpayer’s payments. |
Recipient Details
| Field | Description |
|---|---|
| Name | The name and address of the payment recipient. |
| Street | The name and address of the payment recipient. |
| City | The name and address of the payment recipient. |
| State | The name and address of the payment recipient. |
| ZIP Code | The name and address of the payment recipient. |
| Country | The name and address of the payment recipient. |
Account and Routing Information
| Field | Description |
|---|---|
| Account Number | The unique number used by the taxpayer to identify the payment recipient. |
| FATCA Filing Requirement | Specifies that the Foreign Account Tax Compliance Act (FATCA) filing requirement is satisfied. |
| Payer’s RTN | Routing and transit number of the payer. |
Interest Income Information
| Field | Description |
|---|---|
| Interest Income | Specifies the taxable interest on the tax return. |
| Early Withdrawal Penalty | Represents any interest or principal forfeited because of early withdrawal of time savings. |
| Interest on U.S. Savings Bonds and Treasury Obligations | Specifies interest on U.S. Savings Bonds, Treasury bills, Treasury bonds, and Treasury notes. This may or may not all be taxable. |
| Federal Income Tax Withheld | The total amount withheld as federal income tax. |
| Investment Expenses | The share of non-taxable expenses incurred by a regulated investment company (RIC), proportional to the payment share of the recipient. |
Foreign Tax Information
| Field | Description |
|---|---|
| Foreign Tax Paid | The amount of taxes withheld in other countries on dividends and other payments (specified in USD). |
| Foreign Country or U.S. Possession | The name of the foreign country or United States Territory where the taxed amount specified in the Foreign Tax Paid field was withheld. |
Tax-Exempt Interest
| Field | Description |
|---|---|
| Tax-exempt Interest | The tax-exempt interest paid. |
| Specified Private Activity Bond Interest | Specifies tax-exempt interest subject to the alternative minimum tax. This amount is included in the Tax-exempt Interest field. |
Market Discount and Bond Premium
| Field | Description |
|---|---|
| Market Discount | Specifies the market discount that accrued on the debt instrument during the year. |
| Bond Premium | The bond premium amount for the year for covered taxable securities. |
| Bond Premium on Treasury Obligations | The bond premium for the year for covered U.S. Treasury securities. |
| Bond Premium on Tax-exempt Bond | The bond premium for the year for covered non-taxable securities. |
CUSIP Information
| Field | Description |
|---|---|
| Tax-exempt and Tax Credit Bond CUSIP Number | The CUSIP number of the tax-exempt bond for which tax-exempt interest is reported. |
State Tax Information
| Field | Description |
|---|---|
| State 1 | State-specific payment information. |
| State 2 | State-specific payment information. |
| State Identification Number 1 | State-specific payment information. |
| State Identification Number 2 | State-specific payment information. |
| State Tax Withheld 1 | State-specific payment information. |
| State Tax Withheld 2 | State-specific payment information. |
Key Fields
- Year
- Payer Details/Name
- Payer’s TIN
- Recipient’s TIN
- Recipient Details/Name
- Account Number
- Payer’s RTN
- Interest Income
- Early Withdrawal Penalty
Validation Rules
| Rule | Description |
|---|---|
| Complete Form Year | Checks the value in the Year field. It removes any white spaces and converts a 2-digit year into a 4-digit format. If the last two digits are numeric and start with 9, it converts the value to the 1900’s (for example, 99 converts to 1999). Otherwise, it assumes the date is from the 2000’s (for example, 24 converts to 2024). |