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Business & farm
If the interest being reported is bank account interest, then it would be reported on Schedule B regardless of whether the Form 1099-INT was issued in the business EIN or the sole proprietor's social security number. There is no appropriate place on Schedule C to report bank account interest.
The most important thing is that it will be reported on the tax return. Keep some notes with your tax records and a copy of the Form 1099-INT in case the IRS questions where the income was reported.
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‎February 11, 2023
6:01 AM