Ohhh...I don't agree that every bond needs to be broken out into it's own 1099-INT. Certainly there can be situations where some bonds need that treatment, but not in normal situations.
But it can be immensely helpful to break out total box 1 (and 11) from box 3 (and 12), from box 8 (and 13) into 3 separate 1099-INT forms. It is particularly critical to do this any time you bought any of the bond types with accrued interest to be declared.......because if you report accrued interest for a recently purchased bond, when all bond types are on one -INT form, the accrued interest will be (improperly) allocated across all three bond types.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
