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Level 1
March 19, 2022
Question

correct 1099-int

  • March 19, 2022
  • 1 reply
  • 4 views

We cashed a savings bond with my wife and son's name on it in December of 2021. The bond's 1099-int was supposed to be under my son's social security number but instead was issued to my wife. I spoke to the bank and they thought that it was too late because of it being cashed in 2021 and it being 2022. I have not filed my 2021 tax return. Is there any way to have this corrected so the interest will be on his taxes?

1 reply

Level 15
March 19, 2022

The IRS will get a copy of the interest form with the wife’s social security number and expect to match it with her return. Only remedy is for bank to send corrected 1099-INT. You might have to appeal to the bank manager.