Understanding Form 1099-INT Boxes

Form 1099-NEC boxes:

Box 1 – Interest Income – Report taxable interest of $10 or more paid to the recipient that is not reported in Box 3.

This box may also include $600 or more in interest paid in the course of your trade or business under certain IRS rules.

Box 2 – Early Withdrawal Penalty – Enter any penalty charged when a recipient withdraws funds early from a certificate of deposit (CD) or other time-deposit account before maturity.

Box 3 – Interest on U.S. Savings Bonds and Treasury Obligations

Report interest paid on:

• U.S. Savings Bonds
• Treasury bills
• Treasury notes
• Treasury bonds

Box 4 – Federal Income Tax Withheld– Enter any backup withholding withheld due to a missing or incorrect taxpayer identification number (TIN).

Box 5 – Investment Expenses – Report the recipient’s share of investment expenses from a single-class REMIC (Real Estate Mortgage Investment Conduit).

Box 6 – Foreign Tax Paid – Enter the amount of foreign tax paid on interest income, if applicable.

Box 7 – Foreign Country or U.S. Possession – If Box 6 is completed, identify the foreign country or U.S. possession to which the tax applies.

Box 8 – Tax-Exempt Interest – Report tax-exempt interest paid to the recipient during the tax year.

Box 9 – Specified Private Activity Bond Interest – Enter interest over $10 paid from specified private activity bonds, as defined under Section 141, issued after August 7, 1986.

Box 10 – Market Discount – Report the taxable portion of market discount on bonds purchased for less than their face value.

Box 11 – Bond Premium – For covered securities (excluding U.S. Treasury obligations) acquired at a premium, enter the bond premium amount allocable to interest for the tax year—unless the recipient has elected not to amortize the premium under Section 171.

Box 12 – Bond Premium on U.S. Treasury Obligations – Report bond premium amortization for covered U.S. Treasury securities acquired at a premium, unless the recipient opted out of amortization under Section 171.

Box 13 – Bond Premium on Tax-Exempt Bonds – For tax-exempt covered securities acquired at a premium, enter the bond premium amortization amount allocable to interest paid during the year.

Box 14 – Tax-Exempt and Tax Credit Bond CUSIP Number – For single bonds—or accounts holding only one bond—enter the applicable CUSIP number.

Boxes 15–17 – State Reporting Information – Complete these boxes if you participate in the Combined Federal/State Filing (CF/SF) Program or are required to submit paper forms to a state agency.

• Box 15 – State
• Box 16 – State identification number
• Box 17 – State tax withheld