1099-int reported under business EIN. Do I report it as other income on schedule C, or as interest on schedule B?
I received a1099-int from a bank that was reported under my sole proprietor LLC EIN, not my SSN. Do I report it as other income on schedule C, or as interest income on schedule B?
03368
3 Replies
ErnieS0
Expert Alumni
Jan 28, 2023 7:29:48 AM
It depends. If it is interest from a business account that you are using for business purposes, then it is Other Income on Schedule C.
If it is personal interest, then it would be on Schedule B.
adm_archery
Level 2
Jan 28, 2023 10:09:17 AM
In this case it is a business account that I used my personal money to open for the sole purpose of receiving a $750 new account bonus. I have never used the account for any business or personal use.
However, the bank reported the the $750 under my business name and EIN.